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Little change for AFRs as Chancellor freezes fuel duty
The news comes as Chancellor George Osborne announces a freeze in fuel duty in his Autumn Statement.
HMRC has published new advisory fuel rates, used to reimburse company car drivers for corporate mileage.
The latest rates, used to reimburse company car drivers for corporate mileage, are effective from 1 December and valid for three months.
Under the new rates, there’s a 1p per mile decrease for smaller-engined LPG cars but the rates for all other engines and sizes remain the same.
Earlier this year, HMRC announced that it was introducing different engine size bandings for diesel models, with a move to a three-tier model. It also committed to reviewing the AFR rates four times a year – on 1 March, 1 June, 1 September and 1 December – but said it will no longer consider changing the rates if fuel prices fluctuate by 5% from the published rates.
The new rates are:
1400cc or less 15p
1401cc to 2000cc 18p
Over 2000cc 26p
1400cc or less 10p
1401cc to 2000cc 12p
Over 2000cc 18p
1600cc or less 12p
1601cc to 2000cc 15p
Over 2000cc 18p