London: +44 (0)20 7236 2601
St Albans: +44 (0)1727 869141
Rickmansworth: +44 (0) 1923 771010
Milton Keynes: +44 (0)1908 605552

HMRC announce new (lower) fuel advisory rates for ‘company’ cars

HM Revenue & Customs have released details of the amounts that employers may reimburse to employees provided with ‘company’ cars, for business travel. For journeys on or after 1 January 2009, the amounts payable per mile are as follows:

Engine size (cc)

Petrol

Diesel

LPG

1400 or less

10p

11p

7p

1401 to 2000

12p

11p

9p

Over 2000

17p

14p

12p

Any amounts paid up to the appropriate figures above will not be taxed.

These are only advisory rates; where employers can show that the costs exceed these amounts, it should be possible to pay the higher amount. Employers doing so can, however, expect to be asked to demonstrate why the costs are higher than the Revenue’s.

In the case of both petrol and diesel engines, the rates are lower than the previous amounts and reflect the lower costs of those fuels since the last review, in June 2008.

These figures will next be reviewed in June 2009.

 

 

Date: 29th December, 2008
Author: David Mansell

SHARE THIS

Articles from this Author

Contact Business Service Partners

Choose from the drop down menu below to select a Partner to contact.

Tweet

Mercer & Hole’s @GudgionJa progress in @CelebJustDance - Not much longer to Waite now….. bit.ly/2gqZOZq @MKDonsSET

Mercer & Hole’s Michael Lapham impresses at the @MoneyMgmtMag Financial Planner Awards bit.ly/2yw3Ieetwitter.com/i/web/status/9…

Follow

LinkedIn

For the latest Mercer & Hole news, visit our LinkedIn page mercer-&-hole

Click here to follow us on LinkedIn