The Advisory Fuel Rates (AFR) as of 1 December,
Engine size Petrol – amount per mile LPG – amount per mile
1400cc or less 12 pence 8 pence
1401cc to 2000cc 14 pence 9 pence
Over 2000cc 21 pence 14 pence
Engine size Diesel – amount per mile
1600cc or less 9 pence
1601cc to 2000cc 11 pence
Over 2000cc 14 pence
Hybrid cars are treated as either petrol or diesel cars for this purpose.
The Advisory Electric Rate (AER) which was introduced in September for 100% electric cars will remain the same at 4p per mile. Electricity is not a fuel for car fuel benefit purposes.
The AFR and AER are deemed to be tax and National Insurance free.
Both rates can be applied for fuel per mile,
- to reimburse employees for business travel in their company cars.
- when you require employees to repay the cost of fuel used for private travel.
If your employee does not repay the private fuel used during the tax year then you will need to,
- report on their P11D
- pay Class 1A National Insurance on the value of the fuel benefit
If you travel as a result of running your business (other than home to work) and
- are unsure on what you can claim
- are considering your options regarding the company purchasing a vehicle
- want to understand the rules around company car benefits in kind
- or anything else associated with business travel
Please contact us so that we can ensure the advice you are given is specific to your circumstances on 0113 2864486
Source: HMRC
Photo: Photo by chuttersnap on Unsplash
Our Services
-
Access to Finance
If your business is growing, then you may need to access some sort of finance product to facilitate your growth. With so many products available, it can be bewildering. How do you work out how much you need, for how long and which product/or products are right for you?
-
Payroll and Auto Enrolment
Employing people can cause stress for a business owner for many reasons and one of these is payroll. Our teams expect that they will be paid on time and with the correct level of deductions made. We can provide a full payroll service for your business including auto-enrolment, keeping you compliant with your many legal responsibilities.
Pop in or give us a call
We'd love to hear from you
When it comes to supporting small enterprises, helping them grow whilst avoiding regulatory and commercial pitfalls, we have a weath of experience, expertise and a kettle - a very good kettle. If you think we could be a good fit, get in touch to see how we can add value to your business.
Contact
About us