23rd May 2018

HM Revenue and Customs (HMRC) has published the latest advisory fuel rates, to apply from 1 June 2018.

The new rates, that only apply to employees using a company car, include a 1p per mile increase for diesel-fuelled vehicles with an engine size of 1,600cc or less. LPG-fuelled vehicles of 1,401cc to 2,000cc and over 2,000cc also increase by 1p per mile.

The new rates are as follows:

Engine size Petrol – amount per mile LPG – amount per mile
1400cc or less 11 pence 7 pence
1401cc to 2000cc 14 pence 9 pence
Over 2000cc 22 pence 14 pence

 

Engine size Diesel – amount per mile
1600cc or less 10 pence
1601cc to 2000cc 11 pence
Over 2000cc 13 pence

 

Hybrid cars are treated as either petrol or diesel cars for this purpose.

HMRC review these rates on a quarterly basis on 1 March, 1 June, 1 September and 1 December.

For more information please contact Lee Muter, Employment Taxes Partner, on 0191 243 6089 or at leemuter@unw.co.uk 

Photo: Front, l-r: Rajan and Anjali Malhotra, Marjorie Ridgway / Back, l-r: Alan Suggett, Karen Simms, Amanda Maskery, Paul Graham

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