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EV rate cut in HMRC’s December 2023 AFRs EV rate cut in HMRC’s December 2023 AFRs
The Advisory Electric Rate (AER) - having been upped by a penny per mile last quarter - has been cut back by 1p to 9p per mile. The HMRC’s latest Advisory Fuel Rates (AFRs) have now been published and while diesel company car drivers will welcome the increases across all engine bands, the news for drivers of electric vehicles (EVs) is less welco ...
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AER increases again in new HMRC rates AER increases again in new HMRC rates
The advisory electricity rate (AER) has increased for company car drivers in electric cars (EVs), rising to 10 pence per mile (ppm). HM Revenue and Customs analyses Advisory Fuel Rates (AFR) each quarter, which includes an AER, which can be used to reimburse drivers of company cars and to calculate costs.A two pence rise in the last half year refl ...
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New Advisory Fuel Rates published by HMRC New Advisory Fuel Rates published by HMRC
Electric rate remains fixed as new AFRs effective from 1st June 2023.The government has released new Advisory Fuel Rates (AFRs) which come into play from Thursday 1st June. The rates are used by businesses and drivers when claiming back fuel costs from their employer or for private mileage when all fuel is paid for by the business to avoid fuel tax ...
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New advisory fuel rates published by HMRC New advisory fuel rates published by HMRC
The Advisory Electricity Rate (AER) has increased by a penny per mile according to new figures published by HMRC which come into effect from 01 March 2023. The new Advisory Electricity Rate (AER) is now 9 pence per mile (ppm), reflecting sustained higher domestic and commercial electricity prices over the past few quarters. AFRs and AERs ...
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Advisory Electric Rate rises to 8p per mile; Advisory Fuel Rates stay static Advisory Electric Rate rises to 8p per mile; Advisory Fuel Rates stay static
In a significant change to the Advisory Electric Rate (AER), HMRC has increased the pence per mile claimable from 5p per mile to 8p per mile. The AER - which started at 4p per mile before rising 25% to 5p per mile in November 2021 - has been criticised by the fleet industry, along with industry groups the BVRLA and Association of Fleet P ...
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Electric car benefit in kind sees moderate rises in Autumn Statement Electric car benefit in kind sees moderate rises in Autumn Statement
In his Autumn Statement yesterday (17 November), Chancellor Jeremy Hunt announced some long term stability for electric cars with the announcement that benefit in kind taxation rates for zero emission cars will increase from 2% in 2025 to 5% by 2028 in 1% increments. Plug-in hybrids will also see the rates increase by the same 1% steps t ...
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