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Passenger car costs versus percentage of professional use

MP
2022-04-18

Question

Hello,

When I enter my fuel costs, the professional use % is standardly set to 20%.I currently keep a logbook so that I can determine my actual business versus private consumption in the long term. Will I only be able to determine this definitively at the end of the financial year, or is this done on a quarterly basis? The reason I ask is so that I can adjust the percentage, as I use a fuel card with an invoice. Does this mean I can also recover part of the vAT?

If you have an invoice (and you have some professional use), then you can reclaim vAT. I'm sure of that. As for the rest... I would say, you enter something, you submit a vAT return, and then I don't think you can adjust the percentage afterwards. You've already declared it, so why adjust it?

If you keep proper records of your mileage in the next year, then you can go for 40%, 50% or whatever.

Hello, good suggestion! Thanks for the info, that helps me a lot :-)

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