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HMRC has published revised advisory fuel rates for company cars, applying from 1st December 2020. 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 December 2020. You can use the previous rates for up to one month from the date the new rates apply.

Engine size

Petrol - amount per mile

LPG - amount per mile

1400cc or less

10p

7p

1401cc to 2000cc

11p

8p

Over 2000cc

17p

12p

 

Engine size

Diesel - amount per mile

1600cc or less

8p

1601cc to 2000cc

10p

Over 2000cc

12p

 

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

The Advisory Electricity Rate for fully electric cars is 4p per mile.

If you require any help with this, please feel free to contact your TaxAssist Accountants office on 0800 0523 555 or enquire online here.

Last updated: 6th January 2021

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.

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