New Advisory Fuel Rates (AFRs) for company car mileage reimbursement have been published by HMRC.
The new rates include a 1p per mile increase for mid-sized petrol engines, and for the smallest diesel engines.
All other rates remain the same, including the Advisory Electricity Rate for EVs.
Hybrids are treated as either petrol or diesel cars for AFR purposes.
The new rates will apply from 1 March, 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
1,401cc to 2,000cc: 15p (up by 1p)
Over 2,000cc: 23p
Diesel:
1,600cc or less: 12p (up by 1p)
1,601cc to 2,000cc: 13p
Over 2,000cc: 17p
LPG:
1,400cc or less: 11p
1,401cc to 2,000cc: 13p
Over 2,000cc: 21p
Electric:
7p
