Updated Advisory Fuel Rates for Company Cars

7th March 2012

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New company car advisory fuel rates have been published to take effect from 1 March 2012. HMRC’s website states:

‘These rates apply to all journeys on or after 1 March 2012 until further notice. For one month from the date of change, employers may use either the previous or new current rates, as they choose. Employers may therefore make or require supplementary payments if they so wish, but are under no obligation to do either.’

The advisory fuel rates for journeys undertaken on or after 1 March 2012 are:

 Engine size              Petrol            LPG

1400cc or less           15p (15p)        10p (11p)

1401cc – 2000cc        18p (18p)        12p (13p)

Over 2000cc              26p (26p)        18p (18p)

 

Engine size               Diesel

1600 cc or less           13p (12p)

1601cc – 2000cc         15p (15p)

Over 2000cc               19p (18p)

Please note that only one rate has changed and that has been reduced and care must be taken to apply the correct rate after the one month period of grace.   

Other points to be aware of about the advisory fuel rates:

If you would like to discuss your car policy, please contact us.

Internet link: HMRC advisory fuel rates

Posted – 07/03/2012