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