New advisory fuel rates published

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Welcome to this monthly Accounting News bulletin from DG Accountancy Services (http://www.businessbods.co.uk) bringing Small Business' news and information from the business world, as it happens!

Wednesday, 8 July 2009

HM Revenue and Customs (HMRC) has announced changes to the advisory fuel rates for company cars.

The rates can be used to negotiate dispensations for mileage payments for business travel in company cars, and apply to all journeys taking place in a company car on or after 1 July 2009.

However, as for recent changes HMRC has permitted employers to apply the new rates ahead of this date where they are able and willing to do so.

The rates are intended to reflect average fuel costs, and apply only where employers reimburse employees for business travel in their company cars, or where employees are required to repay the cost of fuel used for private travel.

To view the latest rates visit: www.hmrc.gov.uk/cars/advisory_fuel_current.htm

posted by BusinessBods.co.uk @ 11:12

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