Company cars - fuel rates

 

HMRC has announced new fuel rates for company cars from 1 June 2011. 

For one month from the date of change, employers may use either the previous or new current rates, as they choose. The new rates are:

Engine Size                           Petrol                         LPG

1400cc or less                        15p                           11p

1401cc to 2000cc                   18p                           13p

Over 2000cc                            26p                            18p

Engine Size                           Diesel

1600cc                                      12p

1601cc to 2000cc                   15p

Over 2000cc                             18p

Petrol hybrid cars are treated as petrol cars for this purpose.

HMRC has stated that the rates will now be reviewed four times a year. Any changes will take effect at the beginning of each calendar quarter – on 1 March, 1 June, 1 September and 1 December and will be published on the HMRC website shortly before the date of change.

Cathy Corns is a tax adviser and a partner at Mercer & Hole. The views given in this blog are personal to the author, if you would like to discuss the contents of this post with Cathy you can call her on 01908 605552.

Source: http://feeds.lexblog.com/~r/MercerHole/TaxPlusBlog/~3/UNBOujXPNJA/

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