Advisory fuel rates

The latest update to HM Revenue & Custom’s advisory fuel rates, effective from 1 March 2016, sees reductions to most rates:

These rates can be used where a director or employee is reimbursed for business mileage they drive in their company car, or where they are required to reimburse the cost of private travel.

After a period of lower fuel prices, recent increases are likely to be reflected in the advisory fuel rates when they are next reviewed from 1 June 2016.