The mileage rates for business travel are currently 45p for the first 10,000 business miles, decreasing to 25p for each business mile over 10,000, in the tax year. These rates have remained the same since 2011 although costs have increased, and we think they must be increased.
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In our view, 2011 to the current day has seen dramatic rises in the cost of living, including the cost of running a vehicle. Just within the last week petrol costs have soared, and overall car maintenance costs due to wear and tear and the cost of labour has increased! The state of the roads i.e potholes are raising the need for this maintenance, insurance costs, MOT and service costs have increased. Running a car is a massive expense, and we think to only be given 45p a mile which then decreases after 10000 miles is ludicrous. We think this urgently needs reviewing.