🚗🔌 Attention electric company car drivers! New HMRC rules might change the way you charge up! Here’s what you need to know:
HMRC has updated the advisory electricity rates (AERs) for company cars, focusing on electric vehicle users. Now, when you’re charging your company electric car, you’ll be able to claim back 8 pence per mile (ppm) for home charging and 14ppm for public charging.
Here’s the deal: If you charge your vehicle in multiple locations (like at home and in public), you can split the mileage claims based on where the charging happens. This means more control and potentially more savings if managed right!
But wait, there’s more! If your public charging costs more than the 14ppm advisory rate, you can claim a higher amount. Just be prepared to show the receipts to prove it.
These changes are a part of HMRC’s quarterly reviews, so you can expect updates around February, May, August, and November. This aims to keep rates aligned with fluctuating fuel prices, making sure you’re not out of pocket while doing business.
Hybrid vehicle users, take note — these cars are still classified as either petrol or diesel in terms of advisory fuel rates. So, keep an eye out for those details if you’re behind the wheel of a hybrid.
Make sure to check the HMRC website for all advisory fuel rates, whether you’re driving petrol, diesel, or electric. And remember, the previous rates remain valid for up to one month after the new rates come into play.
Stay savvy on the road and keep those receipts handy! 🧾💡 #ElectricCar #CompanyCar #HMRCUpdate #DrivingTips #StayInformed