Advisory Fuel Rates for Company Cars Update

Many employers and employees make use of the advisory fuel rates published by HM Revenue & Customs.  The rates apply where the employer:
• reimburses employees for business travel in company cars where the employer does not provide fuel, or,
• requires employees to reimburse the cost of employer provided fuel used for private travel, so potentially avoiding a private fuel benefit charge.
The advisory fuel rates are also acceptable for VAT purposes providing VAT receipts for fuel purchases are retained.
The rates have changed with effect from 1 September 2011. The new rates are on the link below. Please note that HMRC no longer gives a month's notice in this regard.
Currently HM Revenue & Customs reviews the rates at least twice a year.  Please click here for more information.
 
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