I sometimes have to use my own car for business travel, not very often, possibly one per month. My employer pays 45p per mile direct to my bank account. Does this has to be declared to my IP.
It is an allowance - not income so would probably not have to be declared especially as that is the maximum HMRC rate.
IVA started March 2011, Completed March 2016 and certificate issued 11 days after final payment. It was not always easy but then some of the best decisions aren't.
Your IP will see this if they ask for bank statements, but you should have the paperwork from your employer to show this is a reimbursement of expenses associated with using your own vehicle.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
I get expenses back for funds that I pay out for work purposes on a monthly basis and it is not classed as an income.
I asked my IP this when we first set up 3 years ago, as this is something that's part of my job role/career, and if I had to pay out funds and could not get them back if captured, then I could not afford to work or keep my employment.
Expenses are not taxable, but I would keep a copy of the expenses record that you may submit to your employers just in case they wish to see them. Mine never have done to date.
If in doubt, always speak to your IVA co.
Started IVA 27th Feb 2012 - Due to complete 27th Jan 2018 !!
Full & Final submitted and accepted 30th March 2015, paid 10th April 2015 - 3 yrs 1 month into IVA
Completion Certificate received- 30th April 2015!!
