Advisory fuel rates for company cars

New company car advisory fuel rates have been published and took effect from 1 December 2021.

The guidance states: ‘you can use the previous rates for up to one month from the date the new rates apply’. The rates only apply to employees using a company car.

The advisory fuel rates for journeys undertaken on or after 1 December 2021 are:

HMRC guidance states that the rates only apply when you either:

• reimburse employees for business travel in their company cars
• require employees to repay the cost of fuel used for private travel.

You must not use these rates in any other circumstances.

The Advisory Electricity Rate for fully electric cars is 4p per mile. Electricity is not a fuel for car fuel benefit purposes. The full article can be found on this link – Advisory Fuel Rates

If you would like to discuss your company car policy, please contact us. You can call us on 0115 928 3228 or email info@coalesco.co.uk