Mileage logs are used in business to keep a track of distances travelled for work purposes. If your job involves a lot of driving, or if you have a company car, you will usually be asked to keep a detailed mileage log. Most companies pay a certain amount per mile or kilometre to cover fuel and wear and tear on your vehicle. If you are self-employed you will be able to claim deductions against your tax payments. While it will take some time to set up and even more time to be consistent in using it, it is crucial to keep a mileage log.
Keeping Track of Your Travel
Keep track of any travelling you do for work. Examples include:
- travelling to and from client offices for meetings;
- delivering goods and services;
- using your vehicle for voluntary work.
It is important to keep track of miles or kilometres travelled. If you are self employed, you will be able to get tax relief on your travel costs. With rising fuel prices it is particularly useful to know how much you are spending on travel. You can then make informed choices about how you travel and even make alternative arrangements. Travel is not always necessary and you may look into alternative ways to meet or communicate with clients or colleagues, such as Skype or conference calls.
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