Posted by admin - March 9, 2016 8:37 am
1st March changes to advisory Fuel Rates for Company car drivers
HMRC have changed the advisory fuel rates from 1st March 2016. The rates apply only to individuals using a company car.
New rates
| Engine Size | Petrol pence per | LPG pence per mile |
|---|---|---|
| 1400cc or less | 10 | 7 |
| 1401cc to 2000cc | 12 | 8 |
| Over 2000cc | 19 | 13 |
| Engine Size | Diesel pence per mile |
|---|---|
| 1600cc or less | 8 |
| 1601cc to 2000cc | 10 |
| Over 2000cc | 11 |
Hybrid cars are treated as either petrol or diesel cars for this purpose.
ON HMRC’s website they state that ‘for one month from the date of change, employers may use either the previous or new current rates, as they choose. Employers may therefore make or require supplementary payments if they so wish, but are under no obligation to do either’.
If you would like any additional help or advice on this issue then please contact your nearest MFW office.
