New company car advisory fuel rates
Posted on 24th March 2023
This Week's Friday Tax Tip
As of the 1st March 2023, the new company car advisory fuel rates are as follows:
|
Engine Size |
Petrol (per mile) |
|---|---|
|
1400cc or less |
13p |
|
1401cc - 2000cc |
15p |
|
Over 2000cc |
23p |
|
Engine Size |
LPG (per mile) |
|---|---|
|
1400cc or less |
10p |
|
1401cc - 2000cc |
11p |
|
Over 2000cc |
17p |
|
Engine Size |
Diesel (per mile) |
|---|---|
|
1400cc or less |
13p |
|
1401cc - 2000cc |
15p |
|
Over 2000cc |
20p |
HMRC's guidance states that the rates only apply when you either:
Reimburse employees for business travel in their company cars, or;
Require employees to repay the cost of fuel used for private travel.
Hybrid cars are treated as either petrol or diesel cars for advisory fuel rates.
The tax tip is provided for general guidance only; further advice should be sought, for specific issues.
Tagged as: Company Car Tax, Tax Tip
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