HM Revenue & Customs has amended the advisory fuel rates for company cars with effect from 1 September 2012.
The rates – HMRC’s guidelines for fuel mileage rates for company cars – apply to all journeys made on or after 1 September, until further notice
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. Petrol hybrid cars are treated as petrol cars for this purpose.
|1400cc or less||15p||10p|
|1401cc to 2000cc||18p||12p|
|1600cc or less||12p|
|1601cc to 2000cc||15p|
LINK: HMRC Guidance
To find out more about how Wilder Coe Ltd can help you, please contact accountants London.