Can I claim for using a bicycle as my mode of business transport in my self-employed business?

The answer is yes and is based on the same principles as claiming for use of your own motor car in the business.

There are two methods of claiming for the expense, actual costs or HMRC approved mileage rates, currently 20p per mile for bicycles.  Whichever method you choose to use you must continue to use the same method over the life of the vehicle.

Actual costs can include the initial cost of the bicycle whereby you may claim capital allowances with a restriction for private use.  Running costs may also be claimed using the same private cost restriction and can include parts, maintenance, repairs, storage, protective clothing and headgear.

In both cases it is advisable to keep a mileage log which records for each journey (personal or business) the purpose of the journey, the date, the destination and the mileage undertaken.  This will be your evidence for verifying your private cost restriction or the mileage rate claimed.

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