How much is a mile per penny?

[Delboy247]

How much do you allow for mile per penny if you where jobbing all day as the guy I work for says wack in a bit of diesel each week??

 

[ian.settle1]

Think the allowance by HMRC is 40p a mile.

 

[Guitarist]

Depends how you started when you registered as a sole trader. Some use the cost per mile formula, but I use the % of fuel used method.

 

[netblindpaul]

We charge 50p per mile plus vat.

 

[MarkieSparkie]

Think the allowance by HMRC is 40p a mile.

The current rate is higher mate. It changed in 2011 to 45p for the first 10k Miles and 25p there after, per tax year.
HM Revenue & Customs: Travel - mileage and fuel allowances

 

[Richard Burns]

Though I believe the actual total cost of running a vehicle is now approaching £1 per mile once you figure in the proportion of repairs, servicing, insurance, and tax as well as diesel for each mile.

 

[MarkieSparkie]

See links below for Guides and calculators for the actual cost motoring:
Car running costs | AA
Calculator: True cost of running a car | This is Money
Van Running Costs | Compare Van Running Costs | Fleet News

 

[netblindpaul]

HMRC rates are only relevant if you are claiming back against personal tax.
You are legally allowed to charge customers (in any form) whatever you like, if you can persuade them to pay £2/mile then this is fine.