New advisory fuel rates published

New advisory fuel rates published

Advisory fuel rates are intended to reflect actual average fuel costs and are updated quarterly. The rates can be used by employers who reimburse employees for business travel in their company cars or where employees are required to repay the cost of fuel used for private travel. HMRC accepts there is no taxable profit and no Class 1A National Insurance on reimbursed travel expenses where employers pay a rate per mile for business travel no higher than the published advisory fuel rates. Employees can also use the advisory fuel rates to repay the cost of fuel used for private travel. In this case, HMRC will accept there’s no fuel benefit charge. The advisory rates are not binding if the employer can demonstrate that employees cover the full cost of private fuel by repaying at a lower rate per mile. The latest advisory fuel rates became effective on 1 June 2019. Fuel rates are reviewed four times a year with changes taking effect on 1 March, 1 June, 1 September and 1 December. You can use the previous rates for up to 1 month from the date the new rates apply. The rates are as follows:   Engine size  Petrol – amount per mile         LPG – amount per mile 1400cc or less  12p 8p 1401cc to 2000cc   15p 9p Over 2000cc   22p 14p   Engine size  Diesel – amount per mile 1600cc or smaller      10p 1601cc to 2000cc   12p Over 2000cc      14p Hybrid cars are treated as either petrol or diesel cars for this purpose. Advisory Electricity Rate HMRC now accepts that if you pay up to 4p per mile when reimbursing your employees for business travel in a fully electric company car there is no profit. While electricity is not considered a fuel for tax and NIC purposes, the Advisory Electricity Rate will be published quarterly alongside the other advisory fuel rates.

-0001-11-30T00:00:00+00:00

New advisory fuel rates published

Advisory fuel rates are intended to reflect actual average fuel costs and are updated quarterly. The rates can be used by employers who reimburse employees for business travel in their company cars or where employees are required to repay the cost of fuel used for private travel. HMRC accepts there is no taxable profit and no Class 1A National Insurance on reimbursed travel expenses where employers pay a rate per mile for business travel no higher than the published advisory fuel rates. Employees can also use the advisory fuel rates to repay the cost of fuel used for private travel. In this case, HMRC will accept there’s no fuel benefit charge. The advisory rates are not binding. Accordingly, if an employer can demonstrate that employees cover the full cost of private fuel by repaying at a lower rate per mile, this would be accepted. The latest advisory fuel rates became effective on 1 March 2019. Fuel rates are reviewed four times a year with changes taking effect on 1 March, 1 June, 1 September and 1 December. You can use the previous rates for up to 1 month from the date the new rates apply. The rates are as follows: PetrolEngine size 1400cc or less             11p per mileEngine size 1401cc to 2000cc        14p per mileOver 2000cc                                21p per mile LPGEngine size 1400cc or less              7p per mileEngine size 1401 to 2000cc             8p per mileOver 2000cc                                13p per mile Diesel1600cc or less                             10p per mile1601cc to 2000cc                        11p per mileOver 2000cc                               13p per mile Hybrid cars are treated as either petrol or diesel cars for this purpose. Advisory Electricity Rate HMRC now accepts that if you pay up to 4p per mile when reimbursing your employees for business travel in a fully electric company car, there is no profit. While electricity is not considered a fuel for tax and NIC purposes, the Advisory Electricity Rate will be published quarterly alongside the other advisory fuel rates.

-0001-11-30T00:00:00+00:00

New advisory fuel rates published

Advisory fuel rates are intended to reflect actual average fuel costs and are updated quarterly. The rates can be used by employers who reimburse employees for business travel in their company cars or where employees are required to repay the cost of fuel used for private travel. HMRC accepts there is no taxable profit and no Class 1A National Insurance on reimbursed travel expenses where employers pay a rate per mile for business travel no higher than the published advisory fuel rates.Employees can also use the advisory fuel rates to repay the cost of fuel used for private travel. In this case, HMRC will accept there’s no fuel benefit charge. The advisory rates are not binding if you the employer can demonstrate that employees cover the full cost of private fuel by repaying at a lower rate per mile.The latest advisory fuel rates become effective on 1 December 2018. Fuel rates are reviewed four times a year with changes taking effect on 1 March, 1 June, 1 September and 1 December. You can use the previous rates for up to 1 month from the date the new rates apply.The rates are as follows:Engine size  Petrol – amount per mile      LPG – amount per mile1400cc or less   12p8p1401cc to 2000cc   15p10pOver 2000cc   22p15p Engine sizeDiesel – amount per mile1600cc or smaller   10p1601cc to 2000cc12pOver 2000cc   14p   Hybrid cars are treated as either petrol or diesel cars for this purpose.Advisory Electricity RateHMRC now accepts that if you pay up to 4p per mile when reimbursing your employees for business travel in a fully electric company car there is no profit. While electricity is not considered a fuel for tax and NICs purposes, the Advisory Electricity Rate will be published quarterly alongside the other advisory fuel rates.

-0001-11-30T00:00:00+00:00

New advisory fuel rates published

Advisory fuel rates are intended to reflect actual average fuel costs and are updated quarterly. The rates can be used by employers who reimburse employees for business travel in their company cars or where employees are required to repay the cost of fuel used for private travel. HMRC accepts that there is no taxable profit and no Class 1A National Insurance on reimbursed travel expenses where employers pay a rate per mile for business travel no higher than the published advisory fuel rates.Employees can also use the advisory fuel rates to repay the cost of fuel used for private travel, in which case HMRC will accept there’s no fuel benefit charge. The advisory rates are not binding if the employer can demonstrate that the employees cover the full cost of private fuel by repaying at a lower rate per mile.The latest advisory fuel rates become effective on 1 September 2018. Fuel rates are reviewed four times a year with changes taking effect on 1 March, 1 June, 1 September and 1 December. You can use the previous rates for up to 1 month from the date the new rates apply.The rates are as follows:Engine size Petrol – amount per mile      LPG – amount per mile1400cc or less  12p7p1401cc to 2000cc  15p9pOver 2000cc  22p13p Engine size  Diesel – amount per mile1600cc or smaller  10p1601cc to 2000cc  12pOver 2000cc  13pHybrid cars are treated as either petrol or diesel cars for this purpose.Advisory Electricity RateHMRC now accepts that if you pay up to 4p per mile when reimbursing your employees for business travel in a fully electric company car, there is no profit. While electricity is not considered a fuel for tax and NICs purposes, the Advisory Electricity Rate will be published quarterly alongside the other advisory fuel rates.

-0001-11-30T00:00:00+00:00

New advisory fuel rates published

Advisory fuel rates are intended to reflect actual average fuel costs and are updated quarterly. The rates can be used by employers who reimburse employees for business travel in their company cars or where employees are required to repay the cost of fuel used for private travel.HMRC accepts there is no taxable profit and no Class 1A National Insurance on reimbursed travel expenses where employers pay a rate per mile for business travel no higher than the published advisory fuel rates.Employees can also use the advisory fuel rates to repay the cost of fuel used for private travel. In this case, HMRC will accept there’s no fuel benefit charge. The advisory rates are not binding if you the employer can demonstrate that employees cover the full cost of private fuel by repaying at a lower rate per mile.The latest advisory fuel rates become effective on 1 June 2018. Fuel rates are reviewed four times a year with changes taking effect on 1 March, 1 June, 1 September and 1 December. You can use the previous rates for up to 1 month from the date the new rates apply.The rates are as follows:Engine sizePetrol – amount per mile     LPG – amount per mile1400cc or less 11p7p1401cc to 2000cc 14p9pOver 2000cc 22p14p      Engine size Diesel – amount per mile1600cc or smaller 10p1601cc to 2000cc 11pOver 2000cc 13pHybrid cars are treated as either petrol or diesel cars for this purpose.

-0001-11-30T00:00:00+00:00

New advisory fuel rates published

Advisory fuel rates are intended to reflect actual average fuel costs and are updated quarterly. The rates can be used by employers who reimburse employees for business travel in their company cars or where employees are required to repay the cost of fuel used for private travel.HMRC accepts there is no taxable profit and no Class 1A National Insurance on reimbursed travel expenses where employers pay a rate per mile for business travel no higher than the published advisory fuel rates.Employees can also use the advisory fuel rates to repay the cost of fuel used for private travel. In this case, HMRC will accept there’s no fuel benefit charge. The advisory rates are not binding if you the employer can demonstrate that employees cover the full cost of private fuel by repaying at a lower rate per mile.The latest advisory fuel rates became effective on 1 March 2018. Fuel rates are reviewed four times a year with changes taking effect on 1 March, 1 June, 1 September and 1 December. You can use the previous rates for up to 1 month from the date the new rates apply.The rates are as follows:Engine size    Petrol – amount per mile    LPG – amount per mile1400cc or less11p7p1401cc to 2000cc14p8pOver 2000cc22p13pEngine sizeDiesel – amount per mile1600cc or smaller9p1601cc to 2000cc11pOver 2000cc13pHybrid cars are treated as either petrol or diesel cars for this purpose.

-0001-11-30T00:00:00+00:00