Autumn Budget 2017 Reaction: Mileage Rates for Landlords
November 22, 2017
Chancellor Philip Hammond delivered his second Budget of 2017 to Parliament this afternoon. We have created a video and a series of short blogs on various tax and business related Budget announcements to help clarify some of the details behind the headlines.
Mileage Rates for Landlords
Currently, landlords who use a vehicle for business journeys in their unincorporated property business claim tax relief in the form of capital allowances and deductions for actual expenses incurred such as fuel or repairs.
From 6 April 2017, landlords will have the option of claiming fixed mileage rates for business journeys as an alternative. The mileage rates will be the same as for employees using their own vehicles for business, i.e. 45 pence per mile for the first 10,000 miles p.a. and 25 pence per mile thereafter.