By Katie Tax • Tax Advice 0 Comments

Advisory fuel rate for company cars March 2023

The table below sets out the HMRC advisory reimbursement rates for employees’ private mileage using their company car from 1 March 2023. Where full reimbursement is made there is no taxable fuel benefit. The rates for the previous quarter, if different, are in brackets.

Engine Size Petrol Diesel LPG
1400cc or less 13p (14p) 10p
1600cc or less 13p (14p)
1401cc to 2000cc 15p (17p) 11p (12p)
1601 to 2000cc 15p (17p)
Over 2000cc 23p (26p) 20p (22p) 17p (18p)

Note that for hybrid cars you must use the petrol or diesel rate and for fully electric cars the rate is now 9p per mile (8p per mile up to 28 February 2023).

You can continue to use the previous rates for up to 1 month from the date the new rates apply.

Need more information?

We offer a wide range of services which are unique to your businesses who are just getting going! Our team of chartered accountants have a wealth of experience in a broad range of sectors, from construction and property to the charity sector. Our team work hard to ensure they create smart and effective tax-efficient solutions for start-ups to optimise growth and help them succeed. If you want to learn more about how the team can help or simply want some start-up advice from a trusted accountant do hesitate to contact us. For more information please do hesitate to contact us on 0161 962 1855. Alternatively you can email us using the form below and we will contact you as soon as possible.

Our fantastic team at A&C Chartered Accountants are here to help.

Contact us below

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    By Katie Tax 0 Comments

    Diary of main tax events February / March 2023

    Please see below for the diary of main tax events February / March 2023. Our team are here to ensure you meet these deadlines.

    Date What’s Due
    01/02 Corporation tax payment for year to 30/4/22 (unless quarterly instalments apply)
    19/02 PAYE & NIC deductions, and CIS return and tax, for month to 5/02/23 (due 22/02 if you pay electronically)
    28/02 5% surcharge added to the outstanding balance of tax and national insurance due to be paid on 31 January 2023
    01/03 Corporation tax payment for year to 31/5/22 (unless quarterly instalments apply)
    19/03 PAYE & NIC deductions, and CIS return and tax, for month to 5/03/23 (due 22/03 if you pay electronically)

    Need more information?

    Do you need help with the main tax events February / March 2023?

    We offer a wide range of services which are unique to your business! Our team of chartered accountants have a wealth of experience in a broad range of sectors, from construction and property to the charity sector. Our team work hard to ensure they create smart and effective tax-efficient solutions for start-ups to optimise growth and help them succeed. If you want to learn more about how the team can help or simply want some start-up advice from a trusted accountant do hesitate to contact us. For more information please do hesitate to contact us on 0161 962 1855. Alternatively you can email us using the form below and we will contact you as soon as possible.

    Our fantastic team at A&C Chartered Accountants are here to help.

    Contact us below

    Fields marked with an * are required





      By Katie Tax 0 Comments

      Advisory reimbursement rates for employees’ private mileage

      The table below sets out the HMRC advisory reimbursement rates for employees’ private mileage using their company car from 1 December 2022. Where full reimbursement is made there is no taxable fuel benefit. The rates for the previous quarter, if different, are in brackets.

      Engine Size Petrol Diesel LPG
      1400cc or less 14p

      (15p)

       

      		   10p

      (9p)
      1600cc or less 14p

       
      1401cc to 2000cc 17p

      (18p)

       

      		 12p

      (11p)

       
      1601 to 2000cc 17p

       
      Over 2000cc 26p

      (27p)

       

      		 22p

       

      		 18p

      (17p)

       

       

      Note that for hybrid cars you must use the petrol or diesel rate and for fully electric cars the rate is now 8p per mile (previously 5p per mile)

      You can continue to use the previous rates for up to 1 month from the date the new rates apply.

      Need more information?

      Do you have company cars within your business and need help with the advisory reimbursement rates? We offer a wide range of services which are unique to your business! Our team of chartered accountants have a wealth of experience in a broad range of sectors, from construction and property to the charity sector. Our team work hard to ensure they create smart and effective tax-efficient solutions for start-ups to optimise growth and help them succeed. If you want to learn more about how the team can help or simply want some start-up advice from a trusted accountant do hesitate to contact us. For more information please do hesitate to contact us on 0161 962 1855. Alternatively you can email us using the form below and we will contact you as soon as possible.

      Our fantastic team at A&C Chartered Accountants are here to help.

      Contact us below

      Fields marked with an * are required