New company car advisory fuel rates have been published which take effect from 1 June 2019. The guidance states: ‘You can use the previous rates for up to one month from the date the new rates apply’. The rates only apply to employees using a company car.
The advisory fuel rates 2019/20 for journeys undertaken on or after 1 June 2019 are:
Engine size
Petrol
1400cc or less
12p
1401cc – 2000cc
15p
Over 2000cc
22p
Engine size
LPG
1400cc or less
8p
1401cc – 2000cc
9p
Over 2000cc
14p
Engine size
Diesel
1600cc or less
10p
1601cc – 2000cc
12p
Over 2000cc
14p
HMRC guidance states that the rates only apply when you either:
reimburse employees for business travel in their company cars or
require employees to repay the cost of fuel used for private travel.
You must not use these rates in any other circumstances.
The Advisory Electricity Rate for fully electric cars is 4 pence per mile. Electricity is not a fuel for car fuel benefit purposes.
If you would like to discuss your car policy, please contact us.
At Robinsons we work hard to understand, communicate, interact, engage and, above all, to connect with each and every one of our clients – from entrepreneurs to established businesses, from every area of London and from every sector you can imagine.
For us, it’s all about building long-term relationships and really getting to know what makes you tick and what your goals are. We do all this using the latest accounting software. We also have great packages to help start-ups. Remember, we care about your business, not just your accounts.
Advisory fuel rates 2019/20 for company cars
Advisory fuel rates 2019/20 for company cars
New company car advisory fuel rates have been published which take effect from 1 June 2019. The guidance states: ‘You can use the previous rates for up to one month from the date the new rates apply’. The rates only apply to employees using a company car.
The advisory fuel rates 2019/20 for journeys undertaken on or after 1 June 2019 are:
HMRC guidance states that the rates only apply when you either:
You must not use these rates in any other circumstances.
The Advisory Electricity Rate for fully electric cars is 4 pence per mile. Electricity is not a fuel for car fuel benefit purposes.
If you would like to discuss your car policy, please contact us.
For more information please see: GOV.UK AFR
ACCOUNTING DONE DIFFERENTLY
At Robinsons we work hard to understand, communicate, interact, engage and, above all, to connect with each and every one of our clients – from entrepreneurs to established businesses, from every area of London and from every sector you can imagine.
For us, it’s all about building long-term relationships and really getting to know what makes you tick and what your goals are. We do all this using the latest accounting software. We also have great packages to help start-ups. Remember, we care about your business, not just your accounts.
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