HMRC releases new advisory fuel rates for company cars

Personnel Today Smart Buyer
Personnel Today’s Smart Buyer provides expert guidance on company car schemes…

Photo: Alex Segre / Rex

RESEARCH

How salary sacrifice is reshaping company car benefits
Five ways to fund a company car scheme
Pros and cons of providing company cars
Outsourcing fleet management: how to select a supplier
10 questions to ask when changing your fleet supplier
How to build a company car policy
   
MARKET EVALUATION 
Cash for car: an alternative to company car schemes 
Short term car hire: a sensible alternative?
Car clubs and what they mean for businesses
Fleet management glossary: the jargon of company cars
Car leasing and contract hire companies: 20 major players
‘Opticash‘ cash allowances
   
IMPLEMENTATION 
Grey fleet driving offences: how to deal with a growing problem
Seven steps to upgrading fleet management software
How to implement the outsourcing of fleet management
How good is your car benefit policy?
   

Personnel Today Smart Buyer: all Company Cars content

HM Revenue & Customs (HMRC) has released new advisory fuel rates for employers with company car schemes.

Most of the rates have risen slightly or remain unchanged but, for larger engines, the advised costs of diesel and LPG have fallen. The new rates will apply to all journeys made on or after 1 December and, for one month, employers can choose to use either the previous or current levels.

Employers will be able to use these new rates for VAT purposes but receipts also need to be kept, in line with current legislation. These levels are reviewed twice per year and HMRC advises employers to make themselves aware of any changes.

For more information on implementing a company car scheme, read our Smart Buyer guide.

New advisory fuel rates

Engine
size

Petrol price
(per mile)

Diesel price
(per mile)

LPG price
(per mile)

1400cc or less

13p

12p

9p

1401cc to 2000cc

15p

12p

10p

More than 2000cc

219

15p

15p

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