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Thursday, 07 July 2022 12:56

HMRC advisory fuel rates for company car users from 1 March 2022

HMRC has published the latest advisory fuel rates for company car users, effective from 1 March 2022. 

The advisory fuel rates that apply from 1 March 2022 are unchanged from the December 2021 rates for both petrol and diesel. The LPG rate for the lowest 1400cc vehicles is the only rate that has changed.

The previous rates, effective December 2021, can still be used 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

13p

9p

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

The advisory electricity rate for fully electric cars remains at 5p per mile. Electricity is not a fuel for car fuel benefit purposes. Hybrid cars are treated as either petrol or diesel cars for this purpose.

These rates 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.

When employees are reimbursed for business travel in their company cars, HMRC will accept there is no taxable profit and no Class 1A national Insurance to pay.

HMRC reviews rates quarterly on 1 March, 1 June, 1 September and 1 December.

Last modified on Tuesday, 04 October 2022 11:57

        

 
 

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