Market leading insight for tax experts
View online issue

New company car advisory fuel rates

printer Mail

HMRC has published the latest advisory fuel rates for business travel in company cars (or for use where employers require their employees to repay the cost of fuel used for private travel). The updated amounts apply for travel from 1 December 2023 although, as always, the previous rates can be used until the end of the month.

For diesel and petrol cars the rates have been increased by 1p per mile (except for the petrol 1,400–2,000cc band which is unchanged).

The 2,000cc+ figure for LPG cars is reduced by 1p to 18p per mile. HMRC’s December 2023 release originally noted that this was unchanged from the amount for September–November, but the figure for the previous period has now been corrected (to 19p).

The advisory electric rate for fully electric cars is now 9p per mile – a reduction of 1p.

Issue: 1643
Categories: News
EDITOR'S PICKstar
Top