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04 December 2007
New advisory figures for company cars to apply from 1 January 2008 have been announced by HMRC
These figures give about one month's notice of the changes and apply to all journeys on or after 1 January 2008 until further notice:
1400cc or less
- Petrol - 11p
- Diesel - 11p
- LPG - 7p
1401cc to 2000cc
- Petrol - 13p
- Diesel - 11p
- LPG - 8p
Over 2000cc
- Petrol - 19p
- Diesel - 14p
- LPG - 11p
Petrol-hybrid cars are treated as petrol cars for this purpose.
HMRC will review the rates during a tax year only in the event of a variation in fuel prices of greater than 10% from the prices used at that time.
The figures in the table can be used for VAT purposes, although employers will need to retain receipts.
