Company Cars – Advisory Fuel Rates – Advance notice of a timing change from January 2010Wednesday, November 18th, 2009
The Advisory Fuel Rates are reviewed every six months and new rates will be effective from 1 January 2010. They are expected to be announced in late November.
Although a month’s notice of the changes is given, employers have been permitted to apply the new rates immediately, i.e. up to a month before their official introduction rate. HMRC has announced that that will no longer apply. From January 2010, the new rates may not be applied before their effective date. In some cases, employers making or collecting payments in January at the previous rates will need to make or require an additional adjustment payment.
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