HMRC has published revised advisory fuel rates for journeys in company cars from 1 March 2024 onwards. These are the rates employers can use to reimburse employees for the cost of fuel for business travel in company cars without a benefit in kind charge arising.
Compared to the previous quarter, the petrol and diesel rates per mile have been reduced by 1p or 2p, while the LPG rates have been increased. Businesses which run cars that are not fully electric may decide to continue to use the petrol and diesel rates until the end of March, given that the previous rates can be used for up to one month from the date new rates start to apply.
HMRC has published revised advisory fuel rates for journeys in company cars from 1 March 2024 onwards. These are the rates employers can use to reimburse employees for the cost of fuel for business travel in company cars without a benefit in kind charge arising.
Compared to the previous quarter, the petrol and diesel rates per mile have been reduced by 1p or 2p, while the LPG rates have been increased. Businesses which run cars that are not fully electric may decide to continue to use the petrol and diesel rates until the end of March, given that the previous rates can be used for up to one month from the date new rates start to apply.
