Hi,
How can i record hoiw much tax is due from drawings which include my milage allowance of 40p per mile ? for instance when i recieve a payment how do i get to know how much income tax is due and how much dicount i get from milage per invoice.
Hello C Butterfield,
Solar Accounts will not calculate your personal tax on mileage payments - you must do this manually. From the HMRC website it looks like the tax relief for cars is 40p per mile up to 10,000 miles, then 25p per mile after that:
http://www.hmrc.gov.uk/forms/p87.pdf
However, I'm not an expert on this - please check these details with your accountant or tax office.
Regards,
