2

COMPANY CAR:

If you have a company car which you can also use for private use then as from 1st July 2008 the following rates apply for reimbursement of fuel costs for business mileage:

 

These rates don’t often change but you should be aware that they may and they will if VAT rates change.

  

Engine Size

Petrol

Diesel

LPG

1400cc or less

12p (11p)

13p (11p)

7p (  7p)

1401cc to 2000cc

15p (13p)

13p (11p)

9p (  8p)

Over 2000cc

21p (19p)

17p (14p)

13p (11p)

  

PRIVATE CAR: 

If you use your own car for business use then you can claim the following amounts (per mile) for business use. 

 

 

First 10,000 business 

miles in the tax year

Each mile over 10,000 

miles in the tax year

Cars and vans

40p

25p

Motor cycles

24p

24p

Bicycles

20p

20p

 

Any amount received which is higher than those shown will be liable to tax and national insurance.

 

 Note: Employers should use the rates shown in the Company Car table to calculate the VAT recoverable on the Approved Mileage Rates in the Own Car table.

 

If you need any help or advice on the above please contact james@jamesgreenandco.co.uktoday.

 Also See:

Category:Taxation

2 Responses to “HMRC Advisory Fuel Rates”

  1. Joycelyn says:

    Great information. Lucky me I came across your site by chance (stumbleupon).
    I have book marked it for later!

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