The HMRC release new advisory fuel rates for company cars

12 March 2018 Charlotte Andrew Business Taxes

New company car advisory fuel rates have been published which took effect from 1 March 2018. The guidance states: ‘You can use the previous rates for up to one month from the date the new rates apply’. The rates only apply to employees using a company car.

The advisory fuel rates for journeys undertaken on or after 1 March 2018 are:

 

Engine size

Petrol

1400cc or less

11p

1401cc - 2000cc

14p

Over 2000cc

22p

Engine size

LPG

1400cc or less

7p

1401cc - 2000cc

8p

Over 2000cc

13p

Engine size

Diesel

1600cc or less

9p

1601cc - 2000cc

11p

Over 2000cc

13p

 

HMRC guidance states that the rates only apply when you either:

  • reimburse employees for business travel in their company cars or
  • require employees to repay the cost of fuel used for private travel.

 

You must not use these rates in any other circumstances.

If you would like to discuss your car policy, please contact us.

contact us

Other related links;

 

Internet link: GOV.UK AFR

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