Mpg tax return question

[Case]

Right - in danger of showing myself up here.

 

Doing figures for my self assessment tax return.

 

Don't keep a mileage chart, but want to be honest, so I'm coming up with a viable formula.

 

I've kept all my fuel receipts.

 

So, from a maths perspective.

 

Unleaded is say £1.00 per litre. Car is 58 litre tank, so £58 to fill up. That works out at 12.77 gallons.

 

My car does 34 miles to the gallon, so that works out at

434 miles before I need to fill up.

 

But Hmrc says I can claim 45p per mile expenses. So for a tank of unleaded which cost me £58, I can write off £195.30. I'll end up making loss on my return and the tax man will want to visit.

 

Nah. Can't be. What am I f***ing up?

[Stanley Leisure]

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[charlie clown]

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[Case]

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[Nathan Explosion]

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[Gethin]

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