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Changes to advisory fuel rates for company cars. Pearson May News Update - Wednesday 3 June
- Government small business lending scheme wins support
- Changes to advisory fuel rates for company cars
Changes to advisory fuel rates for company cars
HM Revenue and Customs (HMRC) has announced changes to the advisory fuel rates for company cars as of 1 July.
Since January 2008, HMRC has been reviewing the rates on a twice-yearly basis, with the changes coming into effect on 1 January and 1 July and applying to all journeys made on or after those dates.
However, HMRC has also said that employers can, if they wish, introduce the new rates at once.
The rates are as follows.
For cars with engine sizes of 1400cc or less, the rate for petrol is 10p, for diesel it is 10p, and for LPG it is 7p.
For cars with engine sizes of 1401cc to 2000cc, the rate for petrol is 12p, for diesel it is 10p, and for LPG it is 8p.
For cars with engine sizes over 2000cc, the rate for petrol is 18p, for diesel it is 13p, and for LPG it is 12p.
More information is available on the HMRC website at http://www.hmrc.gov.uk/cars/advisory_fuel_current.htm
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