March 2, 2020
HMRC announced revised advisory fuel rates last week and they are now in place.
Advisory fuel rates are rates set by the government to help businesses in reimbursing their employees for fuel costs. These rates are usually shown as pence per mile (ppm).
Please note that hybrid vehicles are classed as either petrol or diesel for the purpose of advisory fuel rates.
These rates show a change across several of the bands, take a look below to see if you will be affected.
Diesel rates for a company car with and engine size of 1,600cc or less will remain the same. As will rates for diesel engines of 1,601 to 2,000cc.
For diesel cars that have an engine larger than 2,000cc the rate has decreased by 1p to 13ppm.
Similarly, the only change for petrol vehicles will be for those with engines over 2,000cc who will see a decrease of 1p to 20ppm.
LPG vehicles with an engine size of less than 1,400cc will stay the same at 8ppm and those with an engine larger than 2,000cc at 14ppm. Those with 1,401 to 2,000cc will have an increase of 1p to 10ppm.
The advisory electricity rates for plug-ins remain the same at 4ppm.
The previous rates can still be used for the next month.