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New advisory fuel rates to begin in December

29 November 2013
Issue: 4431 / Categories: News , company cars , Income Tax , VAT

HMRC have announced new fuel rates for company cars (below), to be applied to all journeys on or after 1 December 2013 until further notice.

Employers may use either the previous or new figures for one month from the date of change, and can make or require supplementary payments but are under no obligation to do either. Petrol hybrid cars are treated as petrol for this purpose.

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

HMRC have announced new fuel rates for company cars (below), to be applied to all journeys on or after 1 December 2013 until further notice.

Employers may use either the previous or new figures for one month from the date of change, and can make or require supplementary payments but are under no obligation to do either. Petrol hybrid cars are treated as petrol for this purpose.

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

Engine size Petrol LPG
1,400cc or less 14p 9p
1,401cc to 2,000cc 16p 11p
Over 2,000cc 25p 16p
Engine size Diesel
1,600cc or less 12p
1,601cc to 2,000cc 14p
Over 2,000cc 17p

 

Issue: 4431 / Categories: News , company cars , Income Tax , VAT
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