HMRC’s latest advisory fuel rates
The latest advisory fuel rates have been published and are applicable from 1 June 2023.
Did you know that HMRCs advisory fuel rates (AFRs) can be used to work out the cost of fuel for journeys made in a company car? By accounting for the cost of fuel using the AFRs, a tax charge can be avoided where:
- your business pays for all the fuel for a company car or van and the employee reimburses the cost of the fuel they used for non-business mileage
- an employee pays for all fuel used in their company car or van and you reimburse them for the business journeys.
Please refer to more information here https://www.gov.uk/guidance/advisory-fuel-rates
