New Advisory fuel rates

HMRC has published revised advisory fuel rates for company cars, applying from 1st March 2022. The rates are to be used only where employers either reimburse employees for business travel in their company cars, or require employees to repay the cost of fuel used for private travel. 

These rates apply from 1st March 2022. You can use the previous rates for up to one month from the date the new rates apply. 

The advisory electricity rate for fully electric cars is 5p per mile.

Hybrid cars are treated as either petrol or diesel cars for advisory fuel rates.

Engine size	Petrol - amount per mile	LPG - amount per mile
1400cc or less	13p	8p
1401cc to 2000cc	15p	10p
Over 2000cc	22p	15p

 

Engine size	Diesel - amount per mile
1600cc or less	11p
1601cc to 2000cc	13p
Over 2000cc	16p

If you require any help in this area, please feel free to contact your TaxAssist Accountants office on 01628 617100 or enquire online here.

Date published 7 Jan 2020 | Last updated 12 Apr 2022

This article is intended to inform rather than advise and is based on legislation and practice at the time. Taxpayer’s circumstances do vary and if you feel that the information provided is beneficial it is important that you contact us before implementation. If you take, or do not take action as a result of reading this article, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.