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PTC - AMRs

tauq786xtauq786x Feels At HomeRegistered Posts: 35
Okay so say for example an employee does 12000 miles a year.. and the company reimburses him 50p per mile, i know that additional 10p is a benefit in kind

however say for example if the reimbursed him 30p per mile.. it would be a cost to the employee.. where would you put it?

thanks for any help

Comments

  • 111beckstar111111beckstar111 Well-Known Registered Posts: 158
    the employee would be owned the remainder of he claim etc 20p per mile and is entitled to claim the rest on the tax return - if he dose'nt it's his own fault.
  • tauq786xtauq786x Feels At Home Registered Posts: 35
    so would i take it off in the allowable deductions? or just ignore it completly
  • KyleKyle Feels At Home Registered Posts: 45
    tauq786x wrote: »
    Okay so say for example an employee does 12000 miles a year.. and the company reimburses him 50p per mile, i know that additional 10p is a benefit in kind

    however say for example if the reimbursed him 30p per mile.. it would be a cost to the employee.. where would you put it?

    thanks for any help

    The first 10000 miles are allowable at 40p per mile and the rest at 25p per mile.

    So in your first scenario,

    Allowable
    10000 x 40p = £4000
    2000 x 25p = £400
    Total = £4400

    Paid
    12000 x 50p = £6000

    So there is a taxable benefit of £1600 which goes in box 12 on E1

    Second scenario,

    Allowable
    10000 x 40p = £4000
    2000 x 25p = £400
    Total = £4400

    Paid
    12000 x 30p = £3600

    So there is an allowable expense of £800 which goes in box 17 on E1

    This figure is included in your benefit in kind calculation, either way. At least that's my understanding!
  • 111beckstar111111beckstar111 Well-Known Registered Posts: 158
    tauq786x wrote: »
    so would i take it off in the allowable deductions? or just ignore it completly

    Yes, take it off! :)
  • tauq786xtauq786x Feels At Home Registered Posts: 35
    Thank u!!!
    IF i pass im taking u out lol
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