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 Accounting News & Insights

Advisory fuel rates for company cars

23rd June 2016

New company car advisory fuel rates have been published which took effect from 1 June 2016. 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 June 2016 are:

Engine size

Petrol

1400cc or less

10p

1401cc - 2000cc

13p

Over 2000cc

20p

 

Engine size

LPG

1400cc or less

7p

1401cc - 2000cc

9p

Over 2000cc

13p

 

Engine size

Diesel

1600cc or less

9p

1601cc - 2000cc

10p

Over 2000cc

12p

 

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

  • reimburse employees for business travel in their company cars
  • 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.

Internet link: GOV.UK AFR


Accounting News & Insights

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