Advisory Fuel Rates 2019
Advisory Fuel Rates are governmental rates for reimbursing businesses and their employees for the fuel costs of company cars. The most recent update from HMRC on these rates was made at the end of 2018. As such, these rates apply from 1 December 2018, so please make sure to check the table below for more information:
It is important to note that Hybrid cars are treated as either petrol or diesel cars, whereas the Advisory Electricity Rate for fully electric car is 4 pence per mile. HMRC does not consider electricity as a fuel for car fuel benefit purposes.
Please also keep in mind that these rates only apply in the following two scenarios:
- When an employee must be reimbursed for work-related travel in a company car or;
- When an employee must repay the company for personal travel in a company car.
Make sure that you are aware of these rates so that you process your business expenses properly. Additionally, if you are an employee who makes use of a company car, then this is also important to verify with your employer.
Get in touch with us for more information on Advisory Fuel Rates or any other tax or expense questions. We’re always happy to help and will always try our best to save you money on tax wherever possible.