HMRC's new 55p mileage rate highlights the importance of good bookkeeping
HMRC's move to raise the Approved Mileage Allowance Payment (AMAP) rate to 55p per mile is good news for many business owners and employees. As fuel, insurance, servicing, and vehicle costs continue to rise, this update offers a more accurate reflection of the actual expenses involved in business travel ... The new 55p mileage rate from HMRC emphasises the significance of maintaining accurate bookkeeping records Many small business owners rely on their vehicles for client visits, networking events, supplier meetings and day-to-day operations. While the new rate may increase the value of allowable mileage claims, businesses can only benefit if they maintain clear and accurate records of their journeys. Without proper documentation, even legitimate mileage expenses | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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If anything I've written in this blog post resonates with you and you'd like to discover more about the new 55p mileage rate and how it relates to your bookkeeping, it may be a great idea to give me a call on 01604 420057 and let's see how I can help you. |
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