Business and City: New rates for employee drivers
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.THERE ARE new rates for the fixed-profit car scheme, which is used to calculate the tax liability of employees given a mileage allowance for using their own cars, for the coming tax year.
For instance, employees with cars up to 1000cc will be allowed 26p per mile for miles up to 4,000, and 15p for higher mileage tax free. On the next band up to 1500cc payments of 32p and 18p are allowed. At the top of the scale, cars over 2000cc qualify for tax-free payments of 54p a mile up to 4,000 miles, and 30p on higher mileage.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments