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HM Revenue and Customs has published the latest advisory fuel rates, due to be implemented from 1 September.
All diesel rates of repayment have been reduced by 1p per mile. This means company car drivers with diesel engines below 1600cc will pay 9p, the 1601 to 2000cc band is rated at 11p and the 2000cc+ segment is listed at 13p.
Petrol-wise, the sub-1400cc band has fallen 1p to 11p from 12p while the rates for other petrol engines are unchanged.
HMRC made the reductions as part of its quarterly review. The rates apply only where employers reimburse employees for business travel in their company cars or require employees to repay the cost of fuel used for private travel.
The rates apply to all journeys on or after 1 September until further notice. However, for one month from the date of change, employers may use either the previous or new current rates, as they choose.
Since March 2011 the rates have been reviewed four times a year. HMRC will no longer consider changing the rates if fuel prices fluctuate by more than 5% from the published rates.
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