2024 Mileage Reimbursement Rate Form. The standard mileage rate will increase to 67¢ per mile for business miles driven beginning january 1, 2024, up from 65.5¢ in 2023. The standard mileage rate for 2024 is 67 cents per mile, up 1.5 cents from 2023’s rate of 65.5 cents per mile.

The hmrc mileage rates offer a standardized approach to mileage reimbursement, but calculating the exact amount can be tedious. If you are a sole trader or qualifying close company and use the kilometre rate method to claim business vehicle costs, this new rate applies for the 2024 year, that is, 1.