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Advisory Fuel rates for company cars

New company car advisory fuel rates have been published which took effect from 1 December 2014.  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 December 2014 are:

Engine size

Petrol

LPG

1400cc or less

13p

9p

1401cc - 2000cc

16p

11p

Over 2000cc

23p

16p

Engine size

Diesel

1600cc or less

11p

1601cc - 2000cc

13p

Over 2000cc

16p

Please note that not all of the rates have been amended so care must be taken to apply the correct rate.

Other points to be aware of about the advisory fuel rates:

  1. Employers do not need a dispensation to use these rates. Employees driving employer provided cars are not entitled to use these rates to claim tax relief if employers reimburse them at lower rates. Such claims should be based on the actual costs incurred.
  2. The advisory rates are not binding where an employer can demonstrate that the cost of business travel in employer provided cars is higher than the guideline mileage rates. The higher cost would need to be agreed with HMRC under a dispensation.

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

Internet link: www.gov.uk/government/publications/advisory-fuel-rates/advisory-fuel-rates-from-1-march-2016

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