HMRC has cut advisory fuel rates for users of company electric vehicles
Andrew Davis – Davis & Co
HMRC has cut advisory fuel rates for users of company electric vehicles, while petrol and diesel rates increase
The advisory fuel rates that apply from 1 June 2024 have gone up for petrol and diesel engines by between 1p and 2p per mile, while LPG rates remain unchanged.
The previous rates, effective from March 2024, can be used for up to one month from the date the new rates apply.
The rates only apply in the following circumstances:
reimburse employees for business travel in their company cars; orrequire employees to repay the cost of fuel...