- Latest Advisory Fuel Rates published
- Slight reduction for smaller diesel engines
- Apply to journeys on or after 1 September
The latest Advisory Fuel Rates (AFRs) have been released by HMRC (HM Revenue and Customs) and will apply from 1 September 2014.
Main news is a 1p fall in rates for smaller diesel engines. Diesels below 1.6 litres in capacity have been given a reduction from 12p to 11p while those between 1.6 and 2.0 litres have fallen from 14p to 13p.
AFRs are recommended guidelines for businesses to set for their drivers when claiming expenses for business miles. It is not mandatory to follow the guidelines but the majority of companies do.
The rates are reviewed quarterly and the latest AFRs apply to journeys made on or after September 1. For one month from the date of the change employers may use either the previous or new current rates as they choose.
The new rates are as follows:
1,400cc or less - 14p (no change)
1,401-2,000cc - 16p (no change)
Over 2,000cc - 24p (no change)
1,600cc or less - 11p (down by 1p)
1,601-2,000cc - 13p (down by 1p)
Over 2,000cc - 17p (no change)
1,400cc or less - 9p (no change)
1,401-2,000cc - 11p (no change)
Over 2,000cc - 16p (no change)