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HMRC introduces new rates on company cars from 1 June.
HMRC has announced new fuel rates for company cars. These are based on fuel prices and adjusted miles per gallon figures. They apply to all journeys on or after 1 June 2017 until further notice.
For one month from the date of change, employers may use either the previous or the latest rates. They may make or require supplementary payments, but are under no obligation to do either.
Hybrid cars are treated as either petrol or diesel cars for this purpose.
The amounts can be used for VAT, but employers will need to retain receipts.
