HMRC has issued details regarding the latest Advisory Fuel Rates for company cars.
From the 1st December 2019 employers may use the old rates or new rates for one month. Employers are under no obligation to make supplementary payments to reflect the new rates but can do so if they wish. Hybrid cars are treated as either petrol or diesel cars for this purpose for the fuel rates.
The rates are as below:
|Engine Size||Petrol- amount per mile||LPG - amount per mile|
|1400cc or less||12 pence||8 pence|
|1401cc to 2000cc||14 pence||9 pence|
|Over 2000cc||21 pence||14 pence|
|Engine Size||Diesel - amount per mile|
For fully electric cars the Advisory Electricity Rate is 4 pence per mile. But electricity is not a fuel for car fuel benefit purposes. Please click here to see all details as per HMRC.