News
23 December 2008 New advisory fuel rates come into effect
The New Year sees the introduction of new advisory fuel rates for company cars.
The rates can be used to negotiate dispensations for mileage payments for business travel in company cars, and they apply to all journeys taking place in a company car on or after 1 January 2009.
However, as was done for the July 2008 changes, HM Revenue and Customs has permitted employers to apply the new rates ahead of this date where they are able and willing to do so.
The rates are intended to reflect average fuel costs, and apply only where employers reimburse employees for business travel in their company cars, or where employees are required to repay the cost of fuel used for private travel.
To view the latest rates visit http://www.hmrc.gov.uk/cars/advisory_fuel_current.htm.
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