Company Cars - New advisory fuel rates from 1 December 2015
For anyone who is processing expense claims for business mileage from December this month, the advisory fuel rates went up on 1 December 2015. The old rates could still be used up until 31 December 2015 but new rates should be used thereafter. Details of the new rates can be located on the website www.gov.uk/government/publications/advisory-fuel-rates
As a reminder, these 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.
Employers can pay whatever rate of reimbursement they choose to but only sums paid up to the published advisory rates will not be subject to tax.
Date: 14th January, 2016
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