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Tax liability - Car allowance

  • 22-07-2009 10:09am
    #1
    Roy Was Right
    Closed Accounts Posts: 15 ✭


    Hi

    I have a car allowance from my company of say €20000 per annum, paid monthly in my salary at the rate of €1666 per month gross.
    I do not get paid a mileage rate or other motoring expenses and use my own car for business trips.
    While I understand this is fully taxable, I believe there is some way of reducing my tax liability by providing a log of my business journeys assigning a portion of my miles and benefit to business related trips.
    The capital allowance form does not seem to be the appropriate form

    Can anyone shed any light on this?

    Thanks


Comments

  • #2
    misspiggy40
    Users Awaiting Email Confirmation Posts: 277 ✭✭misspiggy40


    Hi there. As I understand it if you get a set amount which is called 'round sum expenses' and you get paid this amount regardless of what you have done, then it is all taxable as it is unvouched.

    If you were to agree with your employer that you would, in future, log your miles and hours you would be able to claim mileage and subsistance tax free from your employer as long as the rates were the same or lower than the civil service rates.

    The current rates are on the front page of ISME's website. www.isme.ie

    Good luck;)


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