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12 Sep 2022
New company car advisory fuel rates have been published and took effect from 1 September 2022.
The guidance states: ‘you can use the previous rates for up to one month from the date the new rates apply’. The rates only apply to employees using a company car.
The advisory fuel rates for journeys undertaken on or after 1 September 2022 are:
Engine size Petrol
1400cc or less 15p
1401cc - 2000cc 18p
Over 2000cc 27p
Engine size LPG
1400cc or less 9p
1401cc - 2000cc 11p
Over 2000cc 17p
Engine size Diesel
1600cc or less 14p
1601cc - 2000cc 17p
Over 2000cc 22p
HMRC guidance states that the rates only apply when you either:
You must not use these rates in any other circumstances.
The Advisory Electricity Rate for fully electric cars is 5p per mile. Electricity is not a fuel for car fuel benefit purposes.
If you would like to discuss your company car policy, please contact us.