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HMRC has announced new fuel rates for company cars. They apply to all journeys on or after 1 September 2020.
For one month from the date of change employers may use either the previous or new rates. They may therefore 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.
The advisory rate for fully electric cars is 4p a mile. Electricity is not a fuel for car fuel benefit purposes.
Engine size Petrol LPG
1 400cc or less 10p 7p
1 401cc to 2 000cc 12p 8p
Over 2...
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