Motor Expenses - % method

Hello

My original plan was to use the basic 45p per mile, but after doing some number crunching, I’d be a lot more out of pocket tax wise.

Let’s say I do 4000 miles.
75% are business = 3000
25% are personal = 1000

Let’s say I spend spend £2000 on fuel, parts and insurance etc. So technically £500 is for personal use and not tax deductible… How do I declare this in Quickfiles?

Hi @PaulD

Am I correct in thinking you’re a sole trader?

If that is the case, you would just account for the business aspect of this. There are a few topics on this which I’ve found, which may be helpful:

Please let us know if we can help further.