Must-know information on mileage reimbursement

 

What is mileage reimbursement?

Mileage Reimbursement is a way for employers to compensate their employees for using their personal vehicles for work-related travel.

How is mileage reimbursement calculated?

The rate at which employees are reimbursed is set by an official body, such as the IRS in the USA or HMRC in the UK, and varies by country. The rate may also fluctuate according to the type of vehicle or number of passengers on a trip.

Mileage Reimbursement - Description - illustration

What’s contemplated in mileage reimbursements?

Mileage reimbursement rates take into account not only the cost of gas, but also expenses such as oil, tires, registration taxes, car insurance, maintenance, and depreciation.

Important: This website is for general information only. Check with your local authority to ensure compliance, as there may be unique factors to consider for your company.

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