HMRC have published new advisory fuel rates for company car drivers which apply from 1 December 2023.
Most of the rates have increased this quarter with the exception of those for electric cars which are reduced from 10p to 9p per mile.
The new rates per mile are:
|
Engine size |
Petrol |
Diesel |
LPG |
Electric* |
|
1,400cc or less |
13p |
10p |
9p |
|
|
1,600cc or less |
13p |
9p |
||
|
1,401cc - 2,000cc |
16p |
12p |
9p |
|
|
1,601cc to 2,000cc |
15p |
9p |
||
|
Over 2,000cc. |
26p |
20p |
18p |
9p |
* Fully electric cars only
Hybrid cars are treated as either petrol or diesel cars for these purposes.
The old rates may be used until 31 December 2023, see Advisory fuel rates (company car drivers).
Useful guides on this topic
Company cars
Company car tax. How do you work out car benefits? How do you work out the car fuel benefit? Are there savings for low-emissions vehicles? How do you reduce the car benefit? Cars and the tax tribunals and Top Tax Tips.
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