I’ve made a library, it’s on Patreon, and you should join:
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... You've heard you can claim some money and save some tax if you've driven somewhere for work. Let's talk about the mileage allowance: how it works, how much HMRC lets you claim, what you need to record, how you actually save tax by making a claim, and the extra bits on top of the mileage allowance you can claim for.
You'll also want to know which journeys you can claim a mileage allowance for (hint: not your usual commute), but that's a surprisingly complicated question to answer, so I'll go into detail about that next week.
0:00 Intro
0:33 Who pays and how does it save you tax?
3:10 How much do you claim?
5:43 What do you need to record?
6:10 Extra things you can claim as well as the mileage allowance
7:18 What journeys can you claim for?
7:44 Outro
Next week's video explains what counts as a temporary place of work, so go watch that to find out *which* journeys you can claim your mileage allowance for:
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And here's Caroline at Juniper Lynx explaining the same thing in her own excellent way:
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(She posted that the very day I was filming mine. Whoops!)
Let me know if you have any questions in the comments.
Thanks for watching!
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If we haven't met yet, then hi, I'm Benedict, I'm a Chartered Accountant. This channel is my place to give tips and advice to freelancers, small business owners, start ups, entrepreneurs... anyone who might need a bit of guidance from an accountant in the UK.
My accounting firm is called The Copper Coins; head over to my website if you need more help than a YouTube video can provide. DISCLAIMER TIME: Are you my client? No? You don't have an engagement letter from me with my signature on it? Well then I guess you're not my client, not right now at least. So, of course, I have to warn you that this is just general information, just me talking about my experience with accounting, and that my company and I can't be held responsible for what you do with this information. I make these purely to be helpful, but I may have made a mistake, or brushed over some subtleties of the law, or you might be in a situation that means this information is wrong for you. If you want personal accounting advice, go find an accountant and talk to them and maybe hire them. I might be taking on new clients if you want to get in touch. Thanks.
