In The News
The HMRC approved mileage rates for June have been published.
There has been an increase in the rates across most fuels and engine sizes. This means that it is particularly important for you to update any proforma calculations you have in relation to the reimbursement of private fuel. If you continue to recoup private miles at the old lower rates, HMRC may seek to argue that the full cost of non-business fuel use has not been reimbursed. Remember that even £1 of private fuel can lead to a full year’s fuel benefit charge.
Full details of the new rates can be obtained from the HMRC website here: https://www.gov.uk/guidance/advisory-fuel-rates
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