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Mileage Allowances


sa6raya
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The current mileage allowance has been set at 40p/mile since I don't know when. I am led to believe that if you claim above this amount you will be taxed. Can anyone tell me:

 

1. When was this allowance set?

2. Is it true that any amount above this figure attracts tax?

 

In view of the recent rapid escalation of petrol charges don't you think it should be reviewed?

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The current mileage allowance has been set at 40p/mile since I don't know when. I am led to believe that if you claim above this amount you will be taxed. Can anyone tell me:

 

 

It's only 40p for the first 10,000 miles per tax year; above that, it reduces to 25p.

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