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New fuel rates apply from 1 September

01 September 2011
Issue: 4320 / Categories: News , Business , Income Tax , VAT
Amounts can be used for VAT purposes

HMRC have announced new fuel rates for company cars, which apply to all journeys on or after today (1 September 2011) until further notice.

 

Engine size Petrol LPG
1400cc or less 15p 11p
1401cc to 2000cc 18p 12p
Over 2000cc 26p 18p

 

 

 

 

 

Engine size Diesel
1600cc or less 12p
1601cc to 2000cc 15p
Over 2000cc 18p

 

 

 

 

 

 

For one month from the date of change, employers may use either the previous or new current rates, as they choose.

Employers may make or require supplementary payments if they so wish, but they are under no obligation to do either. Petrol hybrid cars are treated as petrol cars for this purpose.

The amounts can be used for VAT purposes, but employers will need to retain receipts.

Issue: 4320 / Categories: News , Business , Income Tax , VAT
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