Caplan Associates Mobile Phone App Now Helps You Track Business Mileage!

For those of you who need to track business mileage (and yes, we can confirm that the Revenue feels very strongly about this), there’s a simple new way to do this. Our Caplan Associates mobile app has a new “Mileage Tracker” feature, which you can use to ensure that every time you’re using a vehicle for business reasons, it’s all logged and recorded.

Of course, you can stick with your current system of “jotting it down when you remember it”, or (which is probably more likely), “Googling the mileage six months later”, but we’d recommend you keep it much more simple than that.

Here are a few reasons why tracking business mileage is so important, and why you should getdownloading the app right away!

You must keep records of any business mileage.

According to the HMRC, if you’re the director of a business, you can claim tax relief for business miles travelled – but you must have a record of this. The same goes for you if you’re an employee (or if you own a business with employees who travel for work). The HMRC says this:

“You can work out the amount of tax relief – called ‘Mileage Allowance Relief’ – to which you are entitled like this:

1. add up your business miles travelled in the tax year
2. multiply your business miles by the approved mileage rate to work out the approved amount – follow the link below for the latest approved mileage rates
3. add up any mileage allowance payments received from your employer
4. compare any mileage allowance payments received with the approved amount

If the approved amount’s more, you’re entitled to Mileage Allowance Relief on the difference.”

The business mileage fuel rates change regularly.

Only a few months ago, HMRC changed the “advisory fuel rates” for mileage on company cars. You can check them here, but wouldn’t it be easier if you just downloaded our app and let it do the work for you? Yes, it would.

One of the many clever little Tax Tables on the app is the Mileage and Fuel Allowance tax table. You can just click there and see what the current approved mileage rates are, rather than trying to sort it all out at the end of the tax year.

There’s also a nifty little Company Car Calculator, which helps identify the “benefit in kind” value of a company car. Value all round!

You’ve always got your phone with you.Mileage tracker

In the old days, you’d have a little notebook or a log, and you’d keep it in the glove compartment or somewhere under the passenger seat. (Or crushed under the seat.) But then you’d set off on your journey and think, “I’ll record it later”, or you might not think about it at all. If you’re like most business owners (or most people), your mind is more on the meeting you’re about to have, or the issue your customer wants to discuss, or the product you’re delivering. Our new app makes this much easier – since you’re very likely using your phone already for GPS, all you do is click “Start Trip” when you set off, and “End Trip” when you get there. Job done. No little notebooks needed.

For those of you who downloaded the Caplan Associates app and eagerly open it up first thing every morning, you may already know about our new updates. But for others, this may be new information.