Company cars – new advisory fuel rates
HMRC has announced new rates that will apply to all journeys on or after 1 March 2014. For one month from 1 March employers may use either the previous or new current rates, as they choose.
The new rates are:
|1400cc or less||14p||9p|
|1401cc to 2000cc||16p||11p|
|1600cc or less||12p|
|1601cc to 2000cc||14p|
Hybrid cars are treated as either petrol or diesel cars for this purpose.
HMRC will also accept the rates for VAT purposes though employers will need to retain receipts in line with current legislation.
Date: 18th March, 2014
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