Self-Employed Business Vehicle Expenses

Are you self-employed? We’re sure you know about the SEISS grant and tax relief when working from home, but are you claiming for the use of a business vehicle too?

You may be surprised to hear that there are multiple expenses that can be claimed against. You can either claim a flat rate of 45p per mile travelled on business, which also covers the insurance, breakdown, repairs and servicing, or you can claim relief for the actual costs for business use:

• Fuel costs when travelling to business meetings, clients and events
• Vehicle insurance
• Breakdown cover
• Repairs and servicing

Also, if you travel by additional means, you can claim tax relief on bus, train and taxi fares, not to mention hotel rooms and meals during overnight business trips. You can also claim parking costs if it was for a business trip.

In fact, the only things you can’t claim tax relief on in regards to vehicles are:

• Travelling between work and home (and vice versa)
• Non-business driving and travel costs
• Fines (fingers crossed you won’t receive any in the first place)

Find out more

For more tax advice, call our Yorkshire office on 01482 235575, our London office on 0207 885 0605, or fill in our contact form.