New company car advisory fuel rates have been published and took effect from 1 June 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 June 2022 are:
|1400cc or less||14p|
|1401cc – 2000cc||17p|
|1400cc or less||9p|
|1401cc – 2000cc||11p|
|1600cc or less||13p|
|1601cc – 2000cc||16p|
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 on 01292 265071.