a little tax tip
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worried about missing a tax payment?
We write to all our clients who have tax payments upcoming to let them know in advance when and how much to pay. We also calculate their tax liability at the time of preparing their return. Contact us to find out more.
hints and tips
You can reclaim a small amount of VAT on mileage payments for travel
Many small businesses claim the standard 40p per mile for business journeys. A small 
portion of this can be reclaimed by VAT registered businesses. The actual amount depends on the size of engine and fuel type but it works out around 1p per mile. We have a FREE calculator to download in our resources section. It doesn't matter if you're not a client of ours, please accept the file with our compliments. We're a little different at Inca from the typical accountant for small businesses.
The calculator allows you to enter your engine size and fuel type. When entering your total mileage for the month it calculates the amount of VAT reclaimable on this expenditure. You will still need to keep fuel VAT receipts, but you are not reclaiming the full VAT on the fuel.
If you are operating the flat rate VAT scheme none of this will be necessary.
HM Revenue & Customs also frequently changes the rates and we will keep the up to date version live on the website. If you'd like to register your details, we'd be happy to notify you when the latest calculator is updated.
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