HMRC has issued details of the latest Advisory Fuel Rates for Company Cars.
For one month from the date of change, employers may use either the previous or new current rates, as they choose. Employers may therefore make or require supplementary payments if they so wish, but are under no obligation to do either.
The new rates are below (previous rate in brackets where there is a change):
Engine size
Petrol
LPG
1400cc or less
11p
7p
1401cc to 2000cc
14p
9p (8p)
Over 2000cc
22p
14p (13p)
Engine size
Diesel
1600cc or less
10p (9p)
1601cc to 2000cc
11p
Over 2000cc 13p Hybrid cars are treated as either petrol or diesel cars for this purpose.
Follow this link for details on how the rates are calculated
Back to Contents
Replacing a company car – amendment in Employer Bulletin 21 August 2018
For those of you who have already read HMRC’s Employer bulletin: August 2018, an amendment has been made to the information about replacing a company car.
On page six under ‘Benefits and Expenses: Company cars’ the original Employer Bulletin said that you if your employee changes their company car, you can no longer report this online. We contacted HMRC about this as we hadn’t heard that there was due to be a change.
HMRC confirmed the information was incorrect and amended the bulletin, which now reads:
“Replacing a company car – If your employee changes their company car, you can no longer report the change by a paper P46 (car). You can still report the change online or your employee can contact HMRC to tell us of this change by logging onto their Personal Tax Account or by calling the taxes helpline.”
Back to Contents
Advisory Fuel Rates for Company Cars from 1 September 2018 28 August 2018
HMRC has issued details of the latest Advisory Fuel Rates for Company Cars which apply from 1 September 2018.
For one month from the date of change, employers may use either the previous or new current rates, as they choose. Employers may therefore make or require supplementary payments if they so wish, but are under no obligation to do either.
The new rates are below (previous rate in brackets where there is a change):
The Chartered Institute of Payroll Professionals
Payroll: need to know
cipp.org.uk
Page 204 of 598
Made with FlippingBook - Online magazine maker