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HMRC Company car advisory fuel rates from 1 June 2019

Please see at the HMRC link below the company car fuel advisory rates to be used as a guidance on the reimbursement of employees for business fuel.


The advisory electricity rate for fully electric cars is 4p per mile. Electricity is not a fuel for car fuel benefit purposes.


The advisory fuel rates apply from 1 June 2019. The previous rates can be used for up to one month from the date the new rates apply.


The rates only apply in the following circumstances: • reimburse employees for business travel in their company cars; or • require employees to repay the cost of fuel used for private travel.


These rates cannot be used in any other circumstances. If the rates are used, it is not necessary to apply for a dispensation to cover the payments made.


When employees are reimbursed for business travel in their company cars, HMRC will accept there is no taxable profit and no Class 1A national Insurance to pay.


Read the full story at https://www.gov.uk/government/publications/advisory-fuel-rates/advisory-fuel-rates-from-1-march-2016


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Farrell & Farrell CA Limited (trading as Farrell & Farrell) is registered in NI with registration number NI 639336. Registered with The Chartered Institute of Taxation as a firm of Chartered Tax Advisers. Registered to carry on audit work and regulated for a range of investment business activities by Chartered Accountants Ireland (CAI). Details about our audit registration can be viewed at www.auditregister.org.uk under reference number 3044856.