This is for you if you are a Sole Trader, Solopreneur or Small Independent Business.
Do you travel to events, networking, meetings with clients? Do you deliver workshops or goods directly to customers?
When you travel for your business the mileage allowance is an expense allowance that many do not calculate.
“Oh it’s only short trips here and there”. These short trips add up, and you will be surprised by the end of the year how much you do.
Not only as a small business do you need to save money by doing this basic admin task yourself, but you can properly analyse in real-time how this additional expense allowance can benefit your business.
Don’t wait until the end of the year to get this essential job done, this template will be your little gem.
And the best part? It comes with full, clear instructions on how to use it properly, so you can hit the ground running and start seeing the benefits immediately.
What it is
You have purchased an Mileage Calculator and Calendar designed to be easy to use, clear to read and automated for stress-free Expenses Admin. This spreadsheet is a way for you as a Small Business, Sole Trader or Solopreneur to keep track of your Mileage. This is an essential part of running a business.
Why you need it
Keeping track of your Business Mileage is often overlooked by small businesses, those little trips seem insignificant, but when you add them up they form a major part of your expenses. If you make regular trips for meetings and events, networking, or collect stock you can claim mileage for it. Claiming mileage is less complicated than claiming vehicle expenses. Your Accountant can advise you if you have a vehicle you use directly as part of your business.
Please keep an eye out on the www.HMRC.gov.uk website each year for updates and make sure to sign up to their newsletter where they host regular Webinars to help you as a Small Business keep up-to-date with new allowances and information.
How you will benefit from updating it regularly
Completing this sheet weekly, or at the very least monthly, will allow you to see how much mileage you are doing. This information will help you to decide if you are pricing your services correctly when you take into account all the time you take travelling, and the costs to you and your vehicle maintenance.
When updating your Tax Return, mileage is an allowable expense which you can claim for at the time of updating your expenses. If you have a Bookkeeper or Accountant, this spreadsheet will be a valuable addition to them when filing your Tax Return.
Your Accountant / Bookkeeper will be delighted that you have kept track of this task, and will help you save yourself money by doing the basic Admin yourself.
This Spreadsheet includes: Instruction sheet, Mileage Dashboard, Regular Journeys sheet, Mileage sheet, Every Calendar Month individually
Please note – this is an excel document, please do not import into another software as it may corrupt the formatting and formulas.