Just a quick one for the accountants out there if I may…
As the director of my Ltd company, I have a few business trips coming up to various worksites which will entail driving around 2000 miles over a period of 10 days .
I will be using my own car.
In the past I have been an employee for other companies , and whenever I used my own car for trips I put in an expenses form showing the details of the journey and got back 45p a mile.
Can I do this as a director of my own company?
Is it as simple as producing a form with the details of mileage and then paying myself £900 from the company accounts.
Obviously in the past , this has not been taxed for ,me, the employee. But are there any additional costs the company has to pay when it pays out the 45p per mile.
Hope that makes sense ?