GJMSurrey
17-01-2010, 16:52 PM
Hello, another question while putting together my accounting policy.
I understand that motor expenses can be deducted for rental income. In my case it is a 95 mile round trip to the property, an i've been advised that 40 pence a mile may be claimed.
If I can claim then I would do so sparingly, i.e. just visit the property when checking in/out tenants (this way I can tie in the dates with the tenancy signature dates for evidence).
(a) Is this correct?
(b) If yes to the above, then presently, my wife is the registered owner on our car and drives me. Can I still claim as I effectively purchased the car and pay the petrol in any case? (or do I have to be the owner). Perhpas I can spend £40 on petrol or make a bank transfer to my wife from my busines account on the day of travel.
Any thoughts?
I understand that motor expenses can be deducted for rental income. In my case it is a 95 mile round trip to the property, an i've been advised that 40 pence a mile may be claimed.
If I can claim then I would do so sparingly, i.e. just visit the property when checking in/out tenants (this way I can tie in the dates with the tenancy signature dates for evidence).
(a) Is this correct?
(b) If yes to the above, then presently, my wife is the registered owner on our car and drives me. Can I still claim as I effectively purchased the car and pay the petrol in any case? (or do I have to be the owner). Perhpas I can spend £40 on petrol or make a bank transfer to my wife from my busines account on the day of travel.
Any thoughts?