HMRC Advisory Fuel Rates from 1 September 2017
The latest rates have dropped slightly in comparison to the rates in the previous quarter. The Exception to this downward trend are fuel rates for petrol cars with engine size of 1400cc or less and diesel cars with an engine of more than 2000cc. The rates of previous quarter can be used for up to one month from the date the new fuel rates will be applicable in the country. The rates would only be applicable in the following situations:
- Reimburse employees for trips for business purposes using company cars.
- Require employees to payback the cost of fuel used for private or personal travel.
The amount per mile for cars using diesel is as follows:
· 9p for cars with capacity of 1600cc or less
· 11p for cars with engine size of over 1600cc but less than 11p
· 12p for cars with size of over 2000cc.Hybrid cars will either be treated as petrol or diesel cars for this purpose.
- Global Ethics Code Playing Catch Up with Latest Technology Developments
- Regulator Launches an Inquiry into Operations of a Birmingham Based Charity
- Leading UK Furniture Business Collapses into Administration
- What You Need to Know About Forex Order Types
- How Technology is Shaping the Future of Financial Services for the Better
- ICAEW Signs MoU with ICAI
- Companies House Updates the Penalty Appeal Proceess for Late Filing