Chris Goad - overview on advisory fuel rates company car

News: Advisory fuel rates for company cars

6th December, 2022, Chris Goad

Advisory fuel rates company car - an overview by Partner, Chris Goad:

New company car advisory fuel rates have been published and took effect from 1 September 2022.

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 2022 are:

Engine size Petrol
1400cc or less 14p
1401cc - 2000cc 17p
Over 2000cc 26p

 

Engine size LPG
1400cc or less 10p
1401cc - 2000cc 12p
Over 2000cc 18p

 

Engine size Diesel
1600cc or less 14p
1601cc - 2000cc 17p
Over 2000cc 22p

 

HMRC 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.

The Advisory Electricity Rate for fully electric cars is 8p per mile. Electricity is not a fuel for car fuel benefit purposes.

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

6th December, 2022, Chris Goad

Advisory fuel rates company car - an overview by Partner, Chris Goad:

New company car advisory fuel rates have been published and took effect from 1 September 2022.

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 2022 are:

Engine size Petrol
1400cc or less 14p
1401cc - 2000cc 17p
Over 2000cc 26p

 

Engine size LPG
1400cc or less 10p
1401cc - 2000cc 12p
Over 2000cc 18p

 

Engine size Diesel
1600cc or less 14p
1601cc - 2000cc 17p
Over 2000cc 22p

 

HMRC 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.

The Advisory Electricity Rate for fully electric cars is 8p per mile. Electricity is not a fuel for car fuel benefit purposes.

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


Chris Goad - overview on advisory fuel rates company car

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