new mileage rates
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Received the following in a newsletter this morning. Does this mean that 40p/mile for first 10'000 miles etc no longer applies?
HMRC announce reduced fuel rates
Reduced fuel mileage rates will now apply from the 1 February 2007. The circumstances in which the rates will be used are:
If employers:
Reimburse employees for business travel in their company cars.(This would be the case where employees pay for all fuel and then claim for the fuel cost of the business related mileage from their employers), or
Require employees to repay the cost of fuel used for private travel. (This would be the case where employers pay for all fuel and require employees to repay the fuel cost of private mileage).
The following rates per mile should now be used to calculate the petrol/fuel cost of business or private motoring.
Engine capacity up to 1400cc - Petrol 9p, Diesel 9p, LPG 6p.
Engine capacity 1401 to 2000cc - Petrol 11p, Diesel 9p, LPG 7p.
Engine capacity 2001 and over - Petrol 16p, Diesel 12p, LPG 10p.
HMRC announce reduced fuel rates
Reduced fuel mileage rates will now apply from the 1 February 2007. The circumstances in which the rates will be used are:
If employers:
Reimburse employees for business travel in their company cars.(This would be the case where employees pay for all fuel and then claim for the fuel cost of the business related mileage from their employers), or
Require employees to repay the cost of fuel used for private travel. (This would be the case where employers pay for all fuel and require employees to repay the fuel cost of private mileage).
The following rates per mile should now be used to calculate the petrol/fuel cost of business or private motoring.
Engine capacity up to 1400cc - Petrol 9p, Diesel 9p, LPG 6p.
Engine capacity 1401 to 2000cc - Petrol 11p, Diesel 9p, LPG 7p.
Engine capacity 2001 and over - Petrol 16p, Diesel 12p, LPG 10p.
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Comments
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Re:new mileage rates
The newsletter you received is in relation to where employers provide company cars to their employees and the employees either repay the company for their private mileage where the company pays for all fuel or where the employee pays for all fuel and then re-claims the business portion back from the company. The rates cited in your thread take effect from 1 February this year.
The 40p per mile for the first 10000 etc is still appropriate and is for situations where the employee uses his/her own car for business travel.
Kind regards
Steve0 -
Re:new mileage rates
and now we just wait for the new fuel scale charges which are changing in May - oh what fun this job is!
Claudia
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Re:new mileage rates
Yep.....more changes!0
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