Updated company car user fuel rates came into effect at the start of June.
The guidance states that the rates only apply to employees using a company car when you either:
- reimburse employees for business travel in their company cars
- require employees to repay the cost of fuel used for private travel
According to Stockport accountants, IN Accountancy, the old rates can be used for up to one month from the date the new rates apply.
The new advisory fuel rates for journeys undertaken on or after 1 June 2016 are:
|1400cc or less||10p|
|1401cc – 2000cc||13p|
|1400cc or less||7p|
|1401cc – 2000cc||9p|
|1600cc or less||9p|
|1601cc – 2000cc||10p|
The rates should not be used in any other circumstances. If you would like to discuss your car policy, please contact us at IN Accountancy on 0161 456 9666.