Advisory fuel rates for employees who use a company car have changed as of 1 March 2017.
The following rates will now apply. Previous rates can be used for up to 1 month after the new rates apply.
|Engine size||Petrol – amount per mile||LPG – amount per mile|
|1400cc or less||11p||7p|
|1401cc to 2000cc||14p||9p|
The following rates apply for diesel cars:
|Engine size||Diesel – amount per mile|
|1600cc or less||9p|
|1601cc to 2000cc||11p|
Hybrid cars can be treated as either petrol or diesel cars.
Rates will relate to 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