New Car Fuel Rates

HMRC has announced new advisory fuel rates for company cars applicable from today.

The rates show how much employers can reimburse employees for business travel in their company cars, or require employees to repay the cost of fuel used for private travel, without attracting a tax or NIC charge on the benefit.

Petrol cars - 12p per mile for engines of 1400cc or less; 15p per mile for 1401-2000cc; and 21p for over 2000cc.
Diesel cars -11p per mile for engines of 1400cc or less; 11p for 1400-2000cc; and 16p for over 2000cc.

The new rates apply to all journeys on or after 1 June 2010 until further notice.

The next review would normally take place on 1 December.

The contents of this article are intended for general information purposes only and shall not be deemed to be, or constitute legal advice. We cannot accept responsibility for any loss as a result of acts or omissions taken in respect of this article.
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