Self Employed
If you're in business or drive a company car, you no doubt have to keep accurate records of all your car mileage. It's a pain, isn't it? Or is it? With MileIQ's handheld mileage-logging app, you can say goodbye to bodging, fudging and guessing.
In the UK, HMRC very kindly allows reimbursement against tax for the business mileage that you log. For cars and vans, this comes in at 45p per mile for the first 10,000 miles and 25p per mile thereafter.
For the record, motorbikes get a flat 24p per mile and bicycles 20p.The same rates apply when paying employees who drive their car for business use.All well and good. But keeping tabs on all your mileage and separating it off from personal trips is all a bit of a pain, isn't it?
Let's face it. If you're in business, you've got enough stuff to worry about, with self-assessment tax returns, invoicing, dodgy suppliers, debt collection and all the other collateral damage of being a go-it-alone hero.
So, wouldn't it be great to have one fewer thing to keep you awake at night? Wouldn't it be amazing to have a simple, handheld app that could record all your business mileage with one swipe of your finger?You can see where we're going with this.
MileIQ's tracking app takes the guesswork, bodging and fudging out of recording your business and work mileage.How does it work? It's easy. You simply create your account, then MileIQ works in the background. There are no buttons to press to start or stop. To categorise travel, you swipe right on your mobile device for business drives and swipe left for personal journeys.
Additionally, you can add your vehicles, purposes and locations, plus details such as parking and tolls. When you need to complete your tax return or submit your expenses form, you'll find MileIQ has maintained an accurate and secure record of all your business mileage in the cloud.
Need reports? Just tap your mobile device, and you'll get a log of your current drive information or a snapshot of multiple drives. If you need more details, you've got a personalised web dashboard to view all of your rides. MileIQ automatically logs every single mile, creating a complete record of all your tax-deductible and reimbursable mileage.
You can view your MileIQ dashboard on your laptop, desktop or tablet. It comes with advanced features such as ‘bulk classify', and you can add locations to create a tailor-made mileage experience.
The app was born in 2013 when Dan Bomze and Chuck Dietrich decided their smartphones could remove the hassle of mileage deduction and mileage reimbursements. The goal was to make mundane administrative tasks hassle-free.MileIQ is designed to save money for the self-employed, but it's also great for managing time. That's time you can better spend on innovating and growing your business.
The basic package is entirely free, which is good for 40 drives a month. MileIQ is fully customised for the UK, but if you want a paid package, you'll pay in dollars.The monthly plan comes in at $5.99 per month for unlimited drive tracking and mileage logging. The annual plan comprises a yearly payment of $59.99, which saves you $12 a year.You won't be troubled by advertisements in the app, either, nor will MileIQ ever sell your data to third parties.Here's a breakdown of those MileIQ plans.
You'll pay nothing for 40 drives a month, every month. And if you want to record a trip as a single drive for which the MileIQ app created separate drive cards, you can quickly join the drives as a single trip.
You, if you drive for business sparingly. It's also a great way to dip your toe into the MileIQ water to see if this is the mileage-tracking app for you.
With the MileIQ Monthly Plan, you can automatically track, log and calculate the value for all your drives, with no limit. MileIQ securely stores your mileage log in the cloud so that you can say goodbye to all those miserable paper records. It'll still be there, even if you lose your phone.The MileIQ Monthly Plan is excellent for contract workers or others whose self-employed work is seasonal. If your self-employment is a 24/7, full-on affair, you're probably best suited to the annual unlimited plan.
For small business owners and freelancers, the annual plan is the way to go. The MileIQ Annual Plan gives you:
Finally, it's worth pointing out that you can potentially reclaim the cost of MileIQ as a business expense. Happy days all around.Download and try the MileIQ mileage logging app for free.
