New advisory fuel rates from December

HMRC have announced new fuel rates for company cars. They apply to all journeys on or after 1 December 2015, until further notice.

For one month from the date of change, employers may use either the previous or new rates. They may, therefore, make or require supplementary payments, but are under no obligation to do either.

Petrol hybrid cars are treated as petrol cars for this purpose. The amounts can be used for VAT, but employers will need to retain receipts.

Issue: 45230 / Categories: News , Income Tax