Posts Tagged ‘Advisory fuel rates’

Advisory fuel rates from 1 March 2019

Wednesday, February 27th, 2019

Advisory fuel rates from 1 March 2019

The advisory fuel rates for claiming back mileage in a company car from 1 March 2019 are as follows:

Engine size                       Petrol – amount per mile            LPG – amount per mile

1400cc or less                     11 pence                                                   7 pence

1401 to 2000cc                   14 pence                                                   8 pence

Over 2000cc                        21 pence                                                  13 pence

 

Engine size                         Diesel – amount per mile

1600cc or less                        10 pence

1601 to 2000cc                      11 pence

Over 2000cc                          13 pence

For the purposes of claiming back mileage, hybrid cars can be treated as either petrol or diesel. The above rates apply from 1 March 2019 but you can use the previous rates up to 31 March 2019 if desired. It is not compulsory to use the above rates but if they are applied, there is no charge to Income Tax or NIC on amounts paid to employees.

Advisory Electricity Rate

For fully electric cars, employees can claim back 4 pence per mile when using the car for business purposes. Electricity is not classed as a fuel for car fuel benefit purposes. This new rate can be claimed from 1 September 2018.

Considerations

Given the government’s changing stance on company car taxation and the move towards ‘greener’ cars, it is often worth revisiting which car you drive or which cars you offer in the company car fleet. There are tax considerations for both the employer and employee who will be keen to optimise the tax position whist driving cars that fit the purposes of the business/individual.

If you are thinking about your options, we can explain them to you and help you understand which course of action might ‘tick the boxes’. It is important that all aspects are considered, not just tax, so that an informed decision is made.

If this is an area you’d like help with, please contact Helen Sewell on 01527 558539 or [email protected]  Helen is experienced in all matters of employer and employee taxation, such as benefits in kind, payroll and also personal taxation.

Advisory fuel rates

Advisory fuel rates – Dec 2016

Monday, December 5th, 2016

Advisory fuel rates from 1 December 2016

There are new rates applicable from 1 December when claiming back business mileage using a company car.

The previous rates can be used up until 31 December 2016.

From 1 December 2016, the rates are as follows:

 

Engine size                          Petrol – amount per mile             LPG – amount per mile

1400cc or less                     11 pence                                              7 pence

1401cc to 2000cc               14 pence                                              9 pence

Over 2000cc                        21 pence                                              13 pence

 

For Diesel cars, the rates are:

 

Engine size                          Diesel – amount per mile            

1600cc or less                     9 pence

1601cc to 2000cc               11 pence

Over 2000cc                        13 pence

 

For drivers of hybrid cars, these can be treated as either petrol or diesel for the purposes of claiming back mileage.

If you would like to discuss this or any other business-expense related matter, please contact Helen Sewell on 01527 558539 or [email protected]

fuel-pumps

Advisory fuel rates from 1 March 2016

Thursday, March 10th, 2016

If you’re an employee using a company car on a business trip, you’ll need to claim back mileage at the correct rates.

Here are the rates to use from 1 March 2016. The previous fuel rates can be used up to 31 March 2016. If your car is a hybrid, you can treat it as either petrol or diesel for the purposes of claiming back mileage.

 

Engine size Petrol – amount per mile LPG – amount per mile
1400cc or less 10 pence 7 pence
1401cc to 2000cc 12 pence 8 pence
Over 2000cc 19 pence 13 pence
Engine size Diesel – amount per mile
1600cc or less 8 pence
1601cc to 2000cc 10 pence
Over 2000cc 11 pence

Advisory fuel rates from 1 September 2015

Thursday, September 24th, 2015

As of 1 September 2015, the advisory fuel rates when claiming business mileage are found below. They apply to employees using a company car.

For advice on fuel rates or any other employee/employer taxation issues, please contact [email protected] or call Helen on 01527 558539.

Engine size Petrol – amount per mile LPG – amount per mile
1400cc or less 11 pence 7 pence
1401cc to 2000cc 14 pence 9 pence
Over 2000cc 21 pence 14 pence
Engine size Diesel – amount per mile
1600cc or less 9 pence
1601cc to 2000cc 11 pence
Over 2000cc 13 pence

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Advisory fuel rates – from 1 June 2015

Monday, June 8th, 2015

The advisory fuel rates for employees using a company car on business journeys are as follows:

Engine size                           Petrol – amount per mile                             LPG – amount per mile

1400cc or less                      12p                                                                     8p

1401cc to 2000cc                14p                                                                     9p

Over 2000cc                         21p                                                                    14p

 

Engine size                           Diesel – amount per mile

1600cc or less                      10p

1601cc to 2000cc                12p

Over 2000cc                         14p

The previous rates can be used up to the end of June 2015.

Please email [email protected] to understand how to apply these rates and for any other BIK/PAYE related queries..

Advisory fuel rates from 1 June 2014

Tuesday, June 24th, 2014

Please see below the advisory fuel rates for journeys made in company cars from 1 June 2014.

Engine size Petrol LPG
1400cc or less 14p 9p
1401cc to 2000cc 16p 11p
Over 2000cc 24p 16p
Engine size Diesel
1600cc or less 12p
1601cc to 2000cc 14p
Over 2000cc 17p

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

These rates are calculated from the fuel prices in the tables below:

Petrol
Engine size (cc) Mean MPG Applied MPG Fuel price (per litre) Fuel price (per gallon) Pence per mile AFR
up to 1400 51.06 43.4 129.4 588.3 13.6 14
1401 – 2000 42.24 35.9 129.4 588.3 16.4 16
over 2000 28.63 24.3 129.4 588.3 24.2 24
Diesel
Engine size (cc) Mean MPG Applied MPG Fuel price (per litre) Fuel price (per gallon) Pence per mile AFR
Up to 1600 62.36 53.0 136.2 619.0 12 12
1601 to 2000 53.25 45.3 136.2 619.0 14 14
Over 2000 43.30 36.8 136.2 619.0 17 17
LPG
Engine size (cc) Mean MPG Applied MPG Fuel price (per litre) Fuel price (per gallon) Pence per mile AFR
up to 1400 40.8 34.7 70.2 319.1 9.2 9
1401 – 2000 33.8 28.7 70.2 319.1 11.1 11
over 2000 22.9 19.5 70.2 319.1 16.4 16

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Advisory fuel rates from 1 March 2014

Tuesday, March 18th, 2014

Below are the HMRC advisory fuel rates for all journeys made on or after 1 March 2014. These advisory fuel rates tend to be used to calculate the VAT recoverable within a business mileage rate paid to employees. VAT is currently one sixth of the mileage rate paid and don’t forget to retain fuel receipts if you’re making VAT claims based on mileage records.

Engine size Petrol LPG
1400cc or less 14p 9p
1401cc to 2000cc 16p 11p
Over 2000cc 24p 17p
Engine size Diesel
1600cc or less 12p
1601cc to 2000cc 14p
Over 2000cc 17p

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

These rates are calculated from the fuel prices in the tables below:

Petrol advisory fuel rates
Engine size (cc) Mean MPG Applied MPG Fuel price (per litre) Fuel price (per gallon) Pence per mile AFR
up to 1400 51.06 43.4 129.2 587.2 13.5 14
1401 – 2000 42.24 35.9 129.2 587.2 16.4 16
over 2000 28.63 24.3 129.2 587.2 24.1 24
Diesel
Engine size (cc) Mean MPG Applied MPG Fuel price (per litre) Fuel price (per gallon) Pence per mile AFR
Up to 1600 62.36 53.0 136.8 621.9 11.7 12
1601 to 2000 53.25 45.3 136.8 621.9 13.7 14
Over 2000 43.30 36.8 136.8 621.9 16.9 17
LPG
Engine size (cc) Mean MPG Applied MPG Fuel price (per litre) Fuel price (per gallon) Pence per mile AFR
up to 1400 40.8 34.7 71.5 325.0 9.4 9
1401 – 2000 33.8 28.7 71.5 325.0 11.3 11
over 2000 22.9 19.5 71.5 325.0 16.7 17

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Advisory fuel rates – latest figures

Wednesday, June 5th, 2013

Below are the latest advisory fuel rates, effective for journeys from 1 June 2013. These rates are to be used where employers reimburse employees for business travel in their company cars, and where employees reimburse the cost of fuel used for private travel in a company car.

Engine size Petrol LPG
1400cc or less 15p 10p
1401cc to 2000cc 17p 12p
Over 2000cc 25p 18p

 

Engine size Diesel
1600cc or less 12p
1601cc to 2000cc 14p
Over 2000cc 18p

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Advisory fuel rates

Monday, March 11th, 2013

When claiming for business travel using company cars, the advisory fuel rates from 1 March 2013 are:

Engine size                                                           Petrol                                LPG

1400 cc or less                                                        15p                                    10p

1401cc to 2000 cc                                                  18p                                    12p

Over 2000 cc                                                          26p                                    18p

Diesel Cars 

1600 cc or less                                                        13p

1601 cc to 2000 cc                                                  15p

Over 2000 cc                                                           18p

 

Curo

March 2013.

Advisory fuel rates from 1 Dec 2012

Monday, December 10th, 2012

Here are the rates applying to all journeys made on or after 1 Dec 2012:

Engine Size                                                   Petrol                                    LPG

1400cc or less                                                15p                                            11p

1401cc to 2000cc                                          18p                                            13p

Over 2000cc                                                    26p                                           18p

 Engine Size                                                   Diesel

1600cc or less                                                  12p

1601cc to 2000cc                                           15p

Over 2000cc                                                     18p

Hybrid cars are treated as either petrol or diesel cars for this purpose. Employers can use the old rates up to 31 December if they wish.

Curo

Dec 2012..