The new advisory fuel rates have been released by the HMRC.
These rates will apply from the 1st of March 2021 but you can use the previous rates for up to one month from that date.
A number of changes are included, for example the below are all up by a penny:
- Petrol engine 1401cc – 2000cc
- Petrol engine over 2000cc
- Diesel with engines of 1600cc or less
- Diesel with 1601cc-2000cc
However the advisory electric rate for fully electric cars remains at 4 pence per mile and hybrids are still to be treated as a petrol or diesel vehicle.
For a full list of changes please refer to the HMRC Advisory Fuel Rates page, linked to below.
You can find about advisory fuel rates for company car users, when you can use them, and how they’re calculated at Advisory fuel rates – GOV.UK (www.gov.uk)