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Stephen Hill Partnership Blog

Advisory Fuel Rates

The latest Advisory Fuel Rates for company cars have been published by HMRC and are now in place as of September 1st.
 
As accountants, it’s important we keep you informed of any changes to rates and allowances, and we have provided these for you in our FREE App to keep you up-to-date and help save time and money.
 
There is a decrease in 1p per mile for engine sizes 1401cc – 2000cc and over 2000cc, although the LPG rate has risen 1p to 10p per mile for 1401cc – 2000cc engines.
 
The diesel rate for engine size 1601cc – 2000cc has decreased by 1p per mile also.
 
Remember, these fuel rates apply in circumstances to reimburse for business fuel if you are a company car driver or if you are required to repay the cost of fuel used for private travel as an employee.
 
We’ll make sure to update you when the next review takes place on December 1st – but in the meantime, get in touch if you need any help!
 
Click here to check the new rates:
https://www.gov.uk/government/publications/advisory-fuel-rates/advisory-fuel-rates-from-1-march-2016

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