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Tel: 0151 348 8400| Fax: 0151 348 8401 | Email: Mail@moco.co.uk

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Specialist Ophthalmic AccountantChartered AccountantsChartered Accountants

Mileage Rates for Opticians using their own transport

The approved maximum tax and National Insurance fuel mileage allowances for Opticians using their own transport for business are as follows:-

All Engine Sizes First 10,000 miles Over 10,000 miles
Per mile 45p 25p
Each passenger making same business trip 5p 5p

These rates represent the maximum tax-free mileage allowances for employees using their own vehicles for business. Any excess is taxable. If the employee recieves less than the statutory rate, tax relief can be claimed on the difference.

Benefits in kind

If you operate through a limited company and have a company car, or if you provide any of your employees with a car, a liability for tax arises under the "Benefits in Kind" rules. Tax is charged on a scale according to the vehicle provided. The percentage of list price charged to tax will be graduated according to carbon dioxide emissions.

Do you operate your practice through the medium of a limited company?

If so, Morris & Co are able to compare the advantage of owning your car yourself and charging your limited company "an authorised mileage rate" compared with running a company owned vehicle and paying tax on the resultant car benefit. We would be pleased to do a detailed review for you for a fixed fee.

Morris & Co have a dedicated team specialising in VAT and ophthalmic accounts and are able to provide advice and guidance on all aspects of financial accounting, taxation including partial exemption & business matters.

For a FREE no obligation chat about your circumstances Contact Desirie Lea on 0151 348 8400 or email specs@moco.co.uk

Testimonials

  • "Over a number of years Morris & Co have provided me with sound financial and business advice. Their in depth knowledge of my particular sector has proved invaluable and they explain my accounts in a way that is easy to understand. All my questions are answered promptly and efficiently and I really appreciate their level of expertise."
    David Evans, R T Booth & Co Ltd
  • "When appointing an accountant it was very important to me to select someone who was not only knowledgeable but friendly and approachable. I have always received proactive, professional advice and I know that the specialist advice I require to run my business is only ever a phone call away. A VAT full cost and apportionment calculation was recently undertaken for my company. As a result of this, my percentages have reduced, thereby saving me additional money."
    Ian McGarvey, Ian McGarvey Opticians Ltd
  • "Having had dealings with Desirie Lea of Morris and Co from the very inception of my company, I have always been impressed with how approachable everyone has been, from the partners to the receptionists. I had spoken to several accountants before instructing Desirie to take charge of my accounts, and from the first phonecall, Desirie impressed me with her forthright manner and her perceptive analysis of various scenarios I put to her. She is always on the ball and is a pleasure to deal with."
    Lloyd Griffiths, Lloyd Griffiths Limited
  • "Desirie and her team have been acting on my behalf since 2002 and I am delighted with the service they provide. As specialists in the ophthalmic sector, they are able to take away the stress of dealing with the partial exemption calculations for VAT purposes, which is a real bonus. I have regular meetings with them at my premises to discuss strategic issues and plan for the future. Management accounts are prepared on a quarterly basis for my company which includes a detailed analysis/commentary of my trading results. I would have no hesitation in recommending the services of Morris and Co to my fellow professionals."
    Anne O'Loan, Niluain Ltd

Contact Desirie Lea on:

0151 348 8400 or email specs@moco.co.uk for a FREE no-obligation discussion and for information about how we can assist you in maximising your tax relief.