Advisory Fuel Rates March 2018

Posted by karengray - December 5, 2018 3:22 pm Advisory Fuel Rates from 1 December 2018

New Advisory Fuel Rates

New rates apply from 1 December 2018.  You can use the previous rates for up to one month from the date the new rates apply.

Engine size Petrol – amount per mile LPG – amount per mile
1400cc or less 12 pence 8 pence
1401cc to 2000cc 15 pence 10 pence
Over 2000cc 22 pence  15 pence
Engine size Diesel – amount per mile
1600cc or less  10 pence
1601cc to 2000cc 12 pence
Over 2000cc 14 pence

Hybrid cars are treated as either petrol or diesel cars for this purpose.

Advisory Electricity Rate

The Advisory Electricity Rate which applies for fully electric cars is 4 pence per mile.

Employee vehicles: Mileage Allowance Payments (MAPs)

MAPs are the amount you pay for any of your employees using their own vehicle for business journeys.  You can pay your employees an approved amount of MAPs each year without having to report them to HMRC. To calculate the approved amount, multiply your employee’s business travel miles for the year by the rate per mile for their vehicle.

Find out more about reporting and paying MAPs.

Type of vehicle   Tax: rates per business mile
Car For tax purposes: 45 pence for the first 10,000 business miles in a tax year, then 25 pence for each subsequent mile

For National Insurance purposes: 45 pence for all business miles

Motorcycle 24 pence for both tax and National Insurance purposes and for all business miles
Cycle 20 pence for both tax and National Insurance purposes and for all business miles

More details on advisory fuel rates can be found on HMRC’s website.

Alternatively, contact your local MFW office.

We have offices conveniently located across Kent in Ashford, Cranbrook, Dover, Herne Bay, Maidstone and Sittingbourne.  Do call and  speak to our tax teams who will be delighted to help you.