Yes, you are required to record the details of both personal and business trips for accurate expense tracking and compliance with tax regulations.
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Not all travel expenses are eligible for tax relief. HMRC allows tax relief on travel expenses that are ‘wholly and exclusively’ for business purposes only. This means that cars that are used for both business and personal travel need to record details of all personal and business trips to calculate how much of your mileage is eligible for tax relief.
It is also important to consider your personal vs business trips when expenses are claimed. The driver will need to specify the reason for mileage and potentially provide evidence of this. If you use your mileage on your car to determine miles driven it is important to note what miles have been added on for personal trips.
You can record personal trips by keeping a record of the dates and distances travelled for both business and personal mileage, which can be recorded in a variety of ways, either using paper records or a third-party provider.
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