Thurrock accountants, Trueman Brown, are a small firms of accountants who believe in keeping their clients up-to date with the latest developments.
HMRC have announced the new advisory fuel rates to apply from 1st June 2016. The rates, which are set by HMRC, can be used by:-
- Employers to reimburse company car drivers for business miles:
- Employers to reclaim input VAT on employees claims for business related mileage allowance.
- Taxpayers can use the previous rates for up to 1 month from the date the new rates apply; and
- Hybrid cars are treated as either petrol or diesel cars for this purpose.
New Rates From 1st June 2016
|Engine Size||Petrol – Amount Per Mile||LPG – Amount Per Mile|
|1400cc or less||10p||7p|
|1401cc to 2000cc||13p||9p|
|2001cc or more||20p||13p|
Please contact us on 01708 671910 if you require assistance.