Mar 2021
3
New Advisory Fuel Rates from 1st March 2021
The latest Advisory Fuel Rates that will come into effect from 1st March 2021 for company cars has been advised by HMRC. Employers may use the old rates for up to one month from the date the new rates apply. 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. For fully electric cars, the Advisory Electricity Rate is 4 pence per mile. However, electricity is not a fuel for car fuel benefit purposes. Click here to see all details per HMRC.
| Engine size | Petrol - amount per mile | LPG - amount per mile |
| 1400cc or less | 10 pence | 7 pence |
| 1401cc to 2000cc | 12 pence | 8 pence |
| Over 2000cc | 18 pence | 12 pence |
| Engine size | Diesel - amount per mile |
| 1600cc or less | 9 pence |
| 1601cc to 2000cc | 11 pence |
| Over 2000cc | 12 pence |
Related Articles:
- Minimum Wage Increase on 1st April 2021
- Get ready for April: IR35 rule changes in full-effect
- Plan for Jobs - £1,000 for Traineeships
