HMRC have published new advisory fuel rates for company car drivers which apply from 1 June 2020. Following recent drops in oil prices all rates, except those for fully electric cars, have been reduced.

Rates for fully electric cars have remained at 4p per mile since their introduction in September 2018.

The new rates are:

Engine size

Petrol

Diesel

LPG

Electric*

1,400cc or less

10p

 

6p

4p

1,600cc or less

 

8p

 

4p

1,401cc - 2,000cc

12p

 

8p

4p

1,601cc to 2,000.cc

 

9p

 

4p

Over 2,000cc.

17p

12p

11p

4p

* Fully electric cars only

Hybrid cars are treated as either petrol or diesel cars for these purposes.

The old rates may be used until 30 June 2020, see Advisory fuel rates (company car drivers)

Links

Company cars (subscribers only)
Company car tax: How do you work out car benefit? How do you work out car fuel benefit? Are there savings for low emissions vehicles? How do you reduce car benefit? Cars and the tax tribunals and Top Tax Tips.

 

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