Advisory fuel rates dip
The latest update to HM Revenue & Custom’s advisory fuel rates, effective from 1 March 2016, sees reductions to most rates.
|1,400cc or less
|1,401cc to 1,600cc
|1,601cc to 2,000cc
These rates can be used where a director or employee is reimbursed for business mileage they drive in their company car, or where they are required to reimburse the cost of private travel.
After a period of lower fuel prices, recent increases are likely to be reflected in the advisory fuel rates when they are next reviewed from 1 June 2016.
Contact us today to discuss the pros and cons of company cars.
020 7376 9333
– Tax relief on car ownership
– Mileage claim versus company car
– TAX: Company cars are a thing of the past