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Fuel rates from December 2014

01 December 2014
Issue: 4480 / Categories: For Action , Business , Employees , Income Tax , VAT

HMRC have announced new fuel rates for company cars, to apply to all journeys on or after 1 December 2014 until further notice. Employers may use either the previous or new rates for one month from the date of change, and 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.

HMRC have announced new fuel rates for company cars, to apply to all journeys on or after 1 December 2014 until further notice. Employers may use either the previous or new rates for one month from the date of change, and 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.

Engine size Petrol LPG
1,400cc or less 13p 9p
1,401cc to 2,000cc 16p 11p
Over 2,000cc 23p 16p
Engine size Diesel
1,600cc or less 11p
1,601cc to 2,000cc 13p
Over 2,000cc 16p

 

Issue: 4480 / Categories: For Action , Business , Employees , Income Tax , VAT
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