New company car advisory fuel rates have been published and took effect from 1 December 2021.
The guidance states: ‘you can use the previous rates for up to one month from the date the new rates apply’. The rates only apply to employees using a company car.
The advisory fuel rates for journeys undertaken on or after 1 December 2021 are:
|1400cc or less||13p|
|1401cc – 2000cc||15p|
|1400cc or less||9p|
|1401cc – 2000cc||10p|
|1600cc or less||11p|
|1601cc – 2000cc||13p|
HMRC guidance states that the rates only apply when you either:
You must not use these rates in any other circumstances.
The Advisory Electricity Rate for fully electric cars is 5p per mile from 1st December 2021. Electricity is not a fuel for car fuel benefit purposes.’
If you would like to discuss your company car policy, please contact us.
Internet link: GOV.UK AFR