articles/Business/pencemile-page2
Published 01/02/2008
EXAMPLE
calculating his expenses they are as follows:
Motor fuel £1,300
Motor expenses £ 300
Motor Insurance £ 800
Depreciation £2,400
TOTAL £4,800
Using the pence per mile basis he could claim:
10,000 miles at 40p = £4,000
5,000 miles at 25p = £1,250
TOTAL £5,250
Therefore based on the above John would be better of changing to the pence per mile basis.
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