New Advisory Fuel Rates Confirmed

HM Revenue and Customs has revised its advisory fuel rates (AFRs). The new reimbursement rates come into effect from Wednesday (1 March 2017). Rates for diesel vehicles remain the same, but those for petrol vehicles over 2000cc have increased by a 1p per mile, to 22ppm. Rates for LPG vehicles over 2000cc have also increased by 1ppm, to 14ppm.

The rates apply only where employers reimburse staff for business travel in their company cars or require them to repay the cost of fuel used for private travel. The rates apply to all journeys made on or after 1 March until further notice. However, for one month from the date of change, employers may choose to use either the previous or new rates.

This article has been reproduced with the permission of the BVRLA (http://www.bvrla.co.uk)