company mileage allowance
Created by BlueMoon
About 10 years ago I discovered the mileage allowance as an alternative to the complex option of running a Company car. As a Company Director, I can be reimbursed up to 40 pence per mile for using my own car on company business, eg when travelling to meetings or events.
What a great and fair idea it was, so I have used it ever since. In 2002 the 40 pence rate was a reasonable reflection on the real cost of running an average car. In 2011, almost a decade later, the cost of fuel alone has increased by 100%. Other running costs such as tax, insurance, servicing, and the cost of a new car have soared.
So how come the mileage allowance is still at 40 pence? It has not increased one penny nor 1% in 10 YEARS!
Time for a revue please Mr Osbourne?