Sorry. You need to upgrade your browser

You are using Internet Explorer 8

This is considered an out of date browser. This website has been developed with modern browsers in mind to allow it to display at its best in a wide variety of viewing situations - including mobile viewing. But we haven't supported older browsers like IE8. Please upgrade to the latest version of Internet Explorer - or try Mozilla Firefox or Google Chrome. Both are excellent browsers.

Thank you.

Chartered Certified Accountants
and Business Advisors

01530 267320

Fuel Rates Increase – April 2017

HMRC has updated its advisory fuel rates (AFRs) with effect from 1 April 2017. These are the rates for reimbursement of fuel costs which can be used by employers and employees to avoid the car fuel benefit in kind charge arising. The new fuel rates must be used from the 1st April. The table shows the new AFRs.

AFRs can also be used to work out the fuel element of mileage allowances that you pay to your employees for using their own cars for business, so you can reclaim VAT on them. For example, if you paid an allowance of 30p per mile to an employee with a 1,500cc petrol car, you can treat 14p as relating to fuel and reclaim VAT of 2.33p.

ENGINE SIZE PETROL PER MILE LPG PER MILE DIESEL PER MILE:

 

Petrol – amount per mile

LPG – amount per mile

Diesel – amount per mile

Up to 1,400cc

11p

7p

 

1041 – 2,000

14p

9p

 

Up to 1,600cc

 

 

9p

1601 – 2,000cc

 

 

11p

Over 2,000cc

22p

14p

13p

 

If you need help and advice on advisory fuel rates, please contact Sence on 01530 267 320 or email info@senceaccounting.co.uk

07 Apr 2017

« Back to latest news

Latest news

Proposal to extend pension auto enrolment to younger workers

There has been an announcement to extend pensions auto enrolment to young workers and to amend the way the contributions...

Click to read more >

New Student loan limits

If you are an employer, you need to be aware that the earnings thresholds at which you are required to make deductions f...

Click to read more >

What HMRC says about the 'not so simple' taxation of Bitcoin

HMRC’s opinion on cryptocurrencies is given here. This covers VAT, corporation, income and capital gains taxes. Crypto...

Click to read more >

The Chancellor's Spring Plan - Tax-efficient training

Tax relief on training costs was one of the interesting consultations that relates to current rules favouring employees ...

Click to read more >

How can we help?

 

Submit

Testimonial

I would not hesitate to recommend the team at Sence, regardless of how long you have been in business and irrespective of the size of your business.

Rebecca Hogarth
Rebecca Hogarth

Click to read the full testimonial >