Advisory fuel rates for company cars effective 1 September 2024

New company car advisory fuel rates have been published and took effect from 1 September 2024. 

The guidance states: ‘you can use the previous rates for up to one month from the date the new rates apply’. The rates only apply to employees using a company car. 

The advisory fuel rates for journeys undertaken on or after 1 September 2024 are: 

Engine size Petrol

1400cc or less 13p
1401cc - 2000cc 15p
Over 2000 cc 24p

Engine size Diesel

1600cc or less 12p
1601cc - 2000cc 14p
Over 2000 cc 18p

Engine size LPG

1400cc or less 11p
1401cc - 2000cc 13p
Over 2000 cc 21p

The Advisory Electricity Rate for fully electric cars is 7p per mile. 

HMRC guidance states that the rates only apply when you either: 

• reimburse employees for business travel in their company cars 

• require employees to repay the cost of fuel used for private travel. 

You must not use these rates in any other circumstances.