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AER reduced as new AFRs published

Date: 28 May 2024   |   Author: Sean Keywood

New advisory fuel rates (AFRs) for company car mileage reimbursement have been published by HMRC, along with a reduced advisory electricity rate (AER).

The rate for EVs has come down from 9p per mile to 8p per mile.

In contrast, the new AFRs include increases across the board for petrol and diesel cars.

Hybrids are treated as either petrol or diesel cars for AFR purposes.

The new rates will apply from 1 June, but the old rates can still be used for up to one month from that date.

The new rates per mile are as follows:

Petrol:

1,400cc or less: 14p (up by 1p)

1,401cc to 2,000cc: 16p (up by 1p)

Over 2,000cc: 26p (up by 2p)

Diesel:

1,600cc or less: 13p (up by 1p)

1,601cc to 2,000cc: 15p (up by 1p)

Over 2,000cc: 20p (up by 1p)

LPG: 

1,400cc or less: 11p (up by 1p)

1,401cc to 2,000cc: 13p (up by 1p)

Over 2,000cc: 21p (up by 3p)



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