Are you a new business? Or an existing business interested in our services?Get a quote
Unbelievably there were very few changes to the HMRC advisory fuel rates from 1 March 2022, which may not have been your experience at the filling station! Now that the increased road fuel prices have fed through into the HMRC calculations there are some significant increases from 1 June 2022.
These are the suggested reimbursement rates for employees’ private mileage using their company car.
Remember that provided any private fuel is fully reimbursed the employee will not be taxed on the fuel benefit and there is no class 1A employers NIC.
Where the employer does not pay for any fuel for the company car these are the amounts that can be reimbursed in respect of business journeys from 1 June 2022.
|1400cc or less
|1600cc or less
|1401cc to 2000cc
|1601 to 2000cc
Where there has been a change the previous rate is shown in brackets. Note that for hybrid cars you must use the petrol or diesel rate. You can continue to use the previous rates for up to 1 month from the date the new rates apply.
Brearley & Co Accountants are pleased to offer a free, no obligation, initial consultation with one of our experts who will be happy to discuss your business needs and how we can help you.Contact