F&I Management & Training

NEW HM Revenue and Customs’ Advisory Fuel Rates have been published and they will become effective from January 1, 2008.Their publication on the HMRC’s website on Friday (November 30) follows the announcement of new HMRC rules on when and how advisory fuel rates for company car drivers are reviewed and published to ensure a fairer, more responsive system (Digest: November 22).Advisory fuel rates apply where employers reimburse employees for business travel in their company cars, or require employees to repay the cost of fuel used for private travel. They provide a range of rates based on engine size and fuel type.

DATED: 06.12.07

FEED: HC