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International Business Times UK
International Business Times UK
Vinay Patel

HMRC Announces New Advisory Fuel Rates: Impact On Petrol, Diesel, And Electric Car Owners

HMRC's updated fuel rates, effective March 1st, mean some petrol and diesel car owners will see changes, while electric vehicle rates hold steady. (Credit: Pexels)

Petrol and diesel car drivers will face changes to their expenses this week following an HMRC announcement, while electric vehicle owners will benefit from lower rates.

According to a report from the Chartered Institute of Payroll Professionals (CIPP), HMRC's updated Advisory Fuel Rates will take effect from 1st March, impacting company car costs. These rates apply exclusively to employees with company vehicles.

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