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Everything you need to know about connecting your bank and credit cards in QuickBooks Online
jason209
Level 1

How do you change the pence per mile value from 45p down to 25p once you have hit 10,000 miles?

mileage allowance is set at 45p. I now need to reduce this the lower rate of 25p as i have hit the 10,000 mile limit for claiming 45p.

1 REPLY 1
ClaireSamanthaS
QuickBooks Team

How do you change the pence per mile value from 45p down to 25p once you have hit 10,000 miles?

I appreciate you reaching out here in the Community, Jason.

 

Please note that QuickBooks adheres to the regulations and guidelines established by HM Revenue and Customs (HMRC), ensuring that all financial reporting and tax-related processes meet legal requirements. This compliance enables users to manage their finances effectively while adhering to current UK tax laws.

 

Unfortunately, QuickBooks does not currently have functionality to automatically adjust the pence-per-mile rate once the 10,000-mile threshold has been reached. However, you can manually calculate the mileage at the lower rate within QuickBooks and submit your report accordingly to HMRC.

 

As this is a business-specific calculation, you may also want to reach out directly to HMRC to ensure these adjustments align with the rules for your business's use of vehicles. They can provide additional guidance to ensure everything is accurate.

 

You can let us know if you have any further questions or need additional assistance. We're here to assist.

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