If a director with his own car claims mileage allowances for business travel but pays for his fuel on the company credit card am i right to assume that the fuel charge including VAT should be deducted from his allowance?
For the purposes of the company credit card should the fuel expense be put against his personal loan account as the whole amount incl VAT and a journal created between the mileage allowance & the loan account
Thanks
Mike
Replies (1)
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You are correct
The fuel on the credit card should be coded in full to his DLA
He should then provide a detailed mileage log for all business miles travelled and this should be credited to his loan account