Claiming Motor Expenses for GPs

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    How GPs Can Claim Motor Expenses

    Understanding how to efficiently claim motor expenses is vital for self-employed GPs. Nichols & Co Medical Accountants offer expertise in maximising these claims, ensuring you benefit from every possible deduction.

    Optimising GP Motor Expense Claims

    We specialise in two key methods for claiming motor expenses: the mileage rate method and the actual expense method. Our experts ensure that you choose the most beneficial approach for your circumstances.

    Extended Services for GP Accounting

    Nichols & Co Medical Accountants offer a full range of services that support all aspects of GP practice financial management. Explore our advanced tax strategies and pension management services tailored for medical professionals.

    Advantages of Accurate Motor Expense Claims

    Strategically claiming for motor expenses with Nichols & Co can lead to significant tax savings, whether through diligent mileage tracking or capitalising on Capital Allowances.

    • Comprehensive claims method analysis.
    • Detailed record-keeping guidance.
    • Personalised cost-benefit calculations.
    • Expert advice on vehicle-related deductions.
    • Assistance with HMRC compliance.
    • Ongoing support for claim optimisation.

    Tailored Motor Expense Strategies

    Our approach is adapted to your individual circumstances, advising on the most tax-efficient methods for claiming motor expenses, from everyday travel to vehicle investments.

    Looking for an answer to a question?

    Frequently Asked Questions

    We understand that you might have lots of questions when looking for an accountant. For this reason, we have compiled a list of frequently asked questions for you, which we hope will be helpful. However, if you have any further questions, please contact us.

    Can I claim a mileage rate for all my business travel?

    Yes, GPs can claim a mileage rate of 45p per mile for business travel up to 10,000 miles, then 25p per mile thereafter.

    How do I claim for business use of my vehicle?

    You can keep records of all your motor expenses and claim the business percentage of these costs, which includes claiming Capital Allowances for vehicle depreciation.

    What if I use my vehicle for both business and private purposes?

    If your vehicle is used for both, you can claim a tax deduction on the business portion of the expenses. For example, if 50% of your vehicle use is for business, you can claim 50% of the total annual running costs as an allowable expense.

    What are Capital Allowances, and how do they work?

    Capital Allowances allow you to claim for the depreciation of your vehicle. The rate you can claim depends on the CO2 emissions of the vehicle, with rates ranging from 6% to 100%.

    Which method of claiming is best for me?

    The best method depends on your business mileage, how much you use your car for business and what type of car you have. Keeping accurate records will help us determine the most tax-efficient method for you.

    Get in touch
    Contact us for specialist medical accountancy services for GP Medical Practices

    If you’re looking to plan your finances for the future or trying to find an answer to a problem then get in touch today.

    Telephone: 020 8850 3300

    We’re open from 9am to 5pm Monday to Friday. We are closed on bank holidays.

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      We have received an excellent service since we moved to Nichols & Co. The transition has been the most hassle-free and transparent. They are always very helpful with any queries you might have and have a very good working knowledge of General Practice and are keenly aware of the challenges Practices face within the changing environment of the NHS.
      We have been very impressed by the way Nichols & Co continue to deliver the range of services they provide from Accounts to Tax and NHS Pension advice.

      At the year-end meetings, the accounts are presented in an understandable format without any unnecessary jargons. We have found Practice consultation and advice on Practice as well as personal tax matters from Nichols & Co specifically helpful.
      We would not hesitate to recommend them to other GP Practices.

      Dr William Jasper, GP Partner

      I am a GP who works both in salaried and sessional roles. I have been with Nichols & Co for nearly three years. They have helped with my tax returns and can help with the range of different forms required in GP work. Danny and Shadmir have been accurate and efficient in their advice and guidance throughout. They have also been helpful and responsive when I have needed advice on the purchase of a car and also when looking to prove my income in order to get a mortgage.

      The system for providing income details and expenses is very easy to use and the summary they provide of how and when to pay your tax could not be clearer. I would recommend Nichols & Co to any colleague looking for an accountant with a good knowledge of GP work. 

      Dr C DeSouza, Salaried GP

      I’ve been with Nichols and Co for nearly 10 years with Debra being my accountant. I first contacted them when I received letters for tax arrears due to the wrong tax codes being applied during my hospital jobs.

      Debra sorted this matter out and has always provided helpful and honest advice regarding tax matters. She has also helped my wife with her tax returns. I would definitely recommend their services for accounting matters with a special interest in helping doctors with their tax affairs. They are approachable, helpful and efficient.

      Dr Ravi Bansal, Locum GP


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