It was back in the 2011 – 2012 tax year when the current prices were set for 45ppm and 25ppm – that’s 10 years ago and they remain unchanged.
Now with fuel prices, in some fuel stations, topping £1.80 a litre there is a rising voice questioning the current levels set for claims, and whether they should be increased.
Louis Rix, co-founder of CarFinance 247 said: “It’s my view that 45 pence per mile should rise accordingly.
'In fact, if we follow inflation trends, HMRC should raise this figure to approximately 60 pence to account for the rise in fuel prices, and wear and tear costs.
'At a time when employees are likely to be struggling already due to the mounting cost of living, it makes sense for the allowance to rise.'
Any changes are made during the Chancellors statement and that didn’t happen in March and I suspect that we won’t hear about any changes this year – despite the threat of fuel prices reaching a dizzy height of £3 a litre. That’s a worrying thought!