HMRC has released the new rates that will apply from 1 March 2020. The previous Advisory Fuel Rates (AFR) can be used for up to one month from this date.
The diesel rate for a company car with an engine size of 16,001cc to 2,000cc stays the same as does the rate for a diesel car with an engine size of 1,600cc or less.
The new rate for a diesel car with an engine size of more than 2,000cc decreases by 1p per mile (ppm) from 14ppm to 13ppm.
There is a 1ppm reduction for a petrol company car with an engine size of more than 2,000cc, reducing from 21ppm to 20ppm. All the remaining petrol rates remain unchanged.
LPG vehicles with an engine of 1,400cc or less will stay the same at 8ppm as will the rate for LPG vehicles with an engine above 2,000cc will stay the same at 14ppm. For LPGs with an engine from 1,401 to 2,000cc, the rate increases from 9ppm to 10ppm.
Hybrid cars are treated as either petrol or diesel cars for AFR purposes
The Advisory Electricity Rate (AER) for plug-in cars remains unchanged at 4 pence per mile.
This article has been reproduced with the permission of the BVRLA (http://www.bvrla.co.uk)