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New advisory fuel rates from March 2024

26 February 2024
Issue: 4926 / Categories: News

HMRC has announced new fuel rates for company cars. They apply to all journeys on or after 1 March 2024 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.

Hybrid cars are treated as either petrol or diesel cars for this purpose.

The amounts can be used for VAT but employers will need to retain receipts.

The advisory rate for fully electric cars remains the same at 9p a mile. Electricity is not a fuel for car fuel benefit purposes.

 

Engine size              Petrol     LPG

1 400cc or less          13p       11p

1 401cc to 2 000cc    15p       13p

Over 2 000cc         ...

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