Did you know that there has been a minor change to HMRC advisory fuel rates, which apply if your employer reimburses you for fuel used on business mileage in your company car?
Rates are now reviewed quarterly, with any change taking effect from the beginning of each calendar quarter – on 1 March, 1 June, 1 September and 1 December. The relatively harsh tax treatment of ‘free fuel’ means that unless your private mileage is high, employer reimbursement is generally preferable. As ever, there is no substitute for crunching the numbers to be sure. The FSA does not regulate tax advice.