New Advisory Fuel Rates (AFRs) for company car mileage reimbursement have been revealed by HMRC.
The new rates include reductions across the board for cars with petrol or diesel engines.
The Advisory Electricity Rate for EVs remains unchanged at 7p per mile.
Hybrids are treated as either petrol or diesel cars for AFR purposes.
The new rates will apply from 1 December, but the old rates can still be used for up to one month from that date.
The new rates per mile are as follows:
Petrol:
1,400cc or less: 12p (down by 1p)
1,401cc to 2,000cc: 14p (down by 1p)
Over 2,000cc: 23p (down by 1p)
Diesel:
1,600cc or less: 11p (down by 1p)
1,601cc to 2,000cc: 13p (down by 1p)
Over 2,000cc: 17p (down by 1p)
LPG:
1,400cc or less: 11p
1,401cc to 2,000cc: 13p
Over 2,000cc: 21p
Electric:
7p
