Business News

Advisory Fuel Rates Update

As of 1 December 2017, advisory fuel rates have been updated for employees’ usage of company cars.

The following rates are now in place for petrol and LPG-fuelled cars provided by your employer, while the previous rates can be used until 1 January 2018.

Engine sizePetrol – amount per mileLPG – amount per mile
1400cc or less11p7p
1401cc to 2000cc14p9p
Over 2000cc21p14p

 

The following rates also apply for diesel cars:

Engine sizeDiesel – amount per mile
1600cc or less9p
1601cc to 2000cc11p
Over 2000cc13p

 

Hybrid cars are treated as either petrol or diesel cars for this purpose.

These rates will apply when an employer reimburses employees for business travel in their company car and when employees are required to repay the cost of fuel used for private travel.

For any help or advice with financial planning talk to RPD

 

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