Changes on some engine/fuel bands
The suggested reimbursement rates for employees’ private mileage using their company car have been changed by HMRC as of September 1st 2016. The previous rate is shown in brackets.
|1400cc or less||10p||7p|
|1600cc or less||9p (8p)|
|1401cc to 2000cc||13p (12p)||9p (8p)|
|1601 to 2000cc||10p|
|Over 2000cc||20p (19p)||12p (11p)||13p|
The rates can also be used if you ask your staff to repay the cost of fuel used for private travel but are not applicable to vans.
If you have any queries on how to handle reimbursements just give Lewis Smith & Co. a call on 01384 235549 or email firstname.lastname@example.org.
Lewis Smith & Co. – Supporting Stourbridge businesses for more than 30 years