HM Revenue & Customs have announced new fuel rates for company cars, which apply to all journeys on or after 1 June 2018, until further notice.
For one month from the date of change, employers can continue to use the previous rates or the new rates.
Hybrid cars are treated as either petrol or diesel vehicles for this purpose. The amounts can be used for VAT but employers must retain receipts.
| Engine size |
Petrol – amount per mile |
LPG – amount per mile |
| 1,400cc or less | 11p | 7p |
| 1,401cc to 2,000cc | 14p | 9p |
| Over 2,000cc | 22p | 14p |
|
If you would like to discuss the above, or have any issues relating to VAT, please call:
Andy Summers, Rugby on 01788 539000 or Jon Kicks, Leicester on 0116 261 0061