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HMRC updates advisory fuel rates for 2014 27 February 2014

HMRC has released an update on its advisory fuel rates, effective from 1 March 2014.

Please note the P11D guide in the March issue of Payroll World, which subscribers will be receiving shortly, was written before this release so these new rates should be used were appropriate.

The rates are used to repay employees tax-free for fuel used on business mileage.

The rates only apply where employers reimburse employees for business travel in their company cars or require them to repay the cost of fuel used for private travel.

A full list of the rates is viewable here



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Are the new rates for the National Minimum Wage and National Living Wage high enough?