Latest advisory fuel rates published
Posted on: 05-12-2023
Latest advisory fuel rates published
The HMRC-approved amount that employers can reimburse staff for business travel in company cars changes from 1 December 2023. What are the new rates?
The advisory fuel rates published by HMRC set fixed amounts that can be paid to an employee using a company car for business mileage, without income tax consequences. It’s possible to use a higher rate, but you must show that the actual fuel cost per mile is greater than the advisory rates.
HMRC has now published the advisory rates applicable from 1 December 2023, with a 1p increase for all diesel car users.
The rates per mile will be:
| Engine size | Petrol | LPG | |||
|---|---|---|---|---|---|
| 1,400cc or less | 14p | 10p | |||
| 1,401cc to 2,000cc | 16p | 12p | |||
| Over 2000cc | 26p | 18p | |||
| Engine size | Diesel |
|---|---|
| 1,600cc or less | 13p |
| 1,601cc to 2,000cc | 15p |
| Over 2,000cc | 20p |
For more help take a look at our Accounting Services
The rate for electric vehicles has dropped to 9p. These rates apply from 1 December 2023, but you can still use the previous rates for one month from that date. For a full list of current and historic rates, click here.
If you would like any assistance with any of these points.
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