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Bicycle Travel

Travelling to work by bike and wondering if you can claim anything on your tax assessment? Recently bought a bicycle specially for your self-employed business and not sure where you stand when it comes to counting it as an expense?

Can I claim?

Yes.

Conditions

You are allowed to claim a flat rate of 20p per mile when using your bike for business travel. However, to qualify as ‘allowable expenditure’, it must be 'wholly and exclusively' for carrying out and earning the profits in your business.  So, if you use it to get from your home to your office, you cannot claim these journeys as business use. 

On SimpleTax

Claiming your mileage is easy on SimpleTax. Just access your Self-Employed page, and if you haven’t already, add "Travel" as an expense category. You can then enter your mileage details under "Other Travel Expenses".

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More Information

You already know the many benefits of using your bike to travel to work. You enjoy being free from the huge expense of operating and maintaining a vehicle, and have seen benefits to your business as clients appreciate the healthy, eco-friendly way you make your journeys. 

You can claim a bicycle as a business expense on your taxes providing it is only used for that business. You would do this by claiming it as capital expenditure, though please be aware that if you opt to go down this route, you would not be able to claim to the flat rate mileage expense for travelling by bike.

SimpleTax’s guide to saving you money when it comes to claiming expenses on your taxes has all the answers. 

 

 

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