HMRC has issued revised advisory fuel rates from 1 September 2023. The rates are used where employers either reimburse employees for business travel in their company cars or require employees to repay the cost of fuel used for private travel.
The main changes are for cars with engines over 2,000cc: the petrol rate is increased by 2p/mile and the diesel and LPG rates by 1p/mile. The petrol rate for cars with engine size between 1,401cc and 2,000cc is also increased by 1p. The advisory electric rate is increased from 9p to 10p per mile.
HMRC has issued revised advisory fuel rates from 1 September 2023. The rates are used where employers either reimburse employees for business travel in their company cars or require employees to repay the cost of fuel used for private travel.
The main changes are for cars with engines over 2,000cc: the petrol rate is increased by 2p/mile and the diesel and LPG rates by 1p/mile. The petrol rate for cars with engine size between 1,401cc and 2,000cc is also increased by 1p. The advisory electric rate is increased from 9p to 10p per mile.
