Advisory Fuel Rates for Company Cars from 1 March 2018 23 February 2018
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
8p (9p)
Over 2000cc
22p (21p)
13p (14p)
Engine size
Diesel
1600cc or less
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
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Company Car Tax rules 2002 to 2020 5 March 2018
As part of the collection of taxable benefits in kind and expenses payments statistics, there have been some minor updates made to reflect changes to documents within the range that report taxable benefits in kind and expenses payments of company car tax rules between tax year 2002 to 2013 and tax year 2013 to 2020.
2002 - 2013 a ready reckoner of appropriate percentage for calculating car benefit charge PDF - this is also available in Excel format.
2013 - 2020 a ready reckoner of appropriate percentage for calculating car benefit charge PDF - this is also available in Excel format.
These ready reckoners form part of the collection entitled taxable benefits in kind and expenses payments statistics.
The next release within the statistics range is due to be published in June 2018 and will cover years until 2016 to 2017.
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The Chartered Institute of Payroll Professionals
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