Advisory Fuel Rate for Company Cars
The table below sets out the HMRC advisory reimbursement rates for employees’ private mileage using their company car from 1 March 2023. Where full reimbursement is made there is no taxable fuel benefit. The rates for the previous quarter, if different, are in brackets.
Engine Size | Petrol | Diesel | LPG |
1400cc or less | 13p (14p) | 10p | |
1600cc or less | 13p (14p) | ||
1401cc to 2000cc | 15p (17p) | 11p (12p) | |
1601 to 2000cc | 15p (17p) | ||
Over 2000cc | 23p (26p) | 20p (22p) | 17p (18p) |
Note that for hybrid cars you must use the petrol or diesel rate and for fully electric cars the rate is now 9p per mile (8p per mile up to 28 February 2023).
You can continue to use the previous rates for up to 1 month from the date the new rates apply.
Click here to see how easy it is to switch to Cowley Holmes
Claim your FREE Essential Guide to Understanding your accounts