Fuel rates for company car drivers

HMRC has announced new advisory fuel rates, from 1 March 2023, for employees using a company car.

Engine size

Petrol – amount per mile

LPG – amount per mile

1400cc or less

13p

10p

1401cc to 2000cc

15p

11p

Over 2000cc

23p

17p

 

Engine size

Diesel – amount per mile

1600cc or less

13p

1601cc to 2000cc

15p

Over 2000cc

20p

 

Also, from 1 March 2023, the advisory electricity rate for fully electric cars is 9p per mile. Hybrid cars are treated as either petrol or diesel cars for advisory fuel rates.

The previous rates can be used for up to one month from the date the new rates apply.

A list of earlier rates can be found on the HMRC website.