Neil Westwood & Co.

Chartered Accountants

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Tax Rates 2010/11 Tax Rates 2009/10 Tax Rates 2008/09 Tax Rates 2007/08 Tax Rates 2006/07

Tax Rates 2009/10
Introduction
Income Tax
Capital Gains Tax
Corporation tax
Main Capital Allowances
VAT
Inheritance Tax
Vehicle Benefits
Mileage Allowances
NI Contributions
Key Dates and Deadlines
Pension Premiums
Charitable Giving
Savings & Investment
Some Useful Rates
Stamp Taxes

Mileage Allowances


For Employees Using Their Own Transport
The approved maximum tax and national insurance free mileage allowances for employees using their own transport for business are as follows:
Flat RateFirst 10,000 MilesThereafter
Car / Van 40p25p
Motorcycle24p24p
Bicycle20p20p
Income Tax and NICs are due when allowances exceed these rates. Employees can claim tax relief on any shortfall.
Rates of up to 5p per mile, per passenger, are also tax and NIC free when paid for the carriage of fellow employees on the same business trip.


Fuel-Only Mileage Rates
HMRC advisory mileage rates at the time of the Budget for employee private mileage reimbursement or employer reimbursement of business mileage in company cars are:
 PetrolDieselLPG
Up to 1400cc10p11p7p
1401cc - 2000cc12p11p9p
Over 2000cc17p14p12p


 

Neil Westwood & Co.

101 Dixons Green Road, Dudley

West Midlands, DY2 7DJ