New Advisory Fuel Rates
Newsletter issue - January 08.
Where you pay a mileage allowance to your company car drivers to compensate for the cost of fuel used on business journeys, those payments can be paid tax free if they fall within certain limits. These limits are called advisory fuel rates and are set by the Taxman every few months. The new mileage rates that apply from 1 January 2008 are:
Engine size: | Petrol | Diesel | LPG |
1400cc or less | 11p | 11p | 7p |
1401 to 2000cc | 13p | 11p | 8p |
Over 2000cc | 19p | 14p | 11p |
These mileage rates are advisory and are not set down in law. If your vehicle fleet has special features which means it is less fuel efficient that the average car, you can agree different advisory rates with your local tax office.
What our clients say about us...
"Paul has provided accountancy services to my company for 2 years now. I can recommend Paul very highly; his skills as an accountant are highly detailed and professional and he is always available to provide advice. One aspect of the way Paul works that I greatly appreciate is a preference to meet face to face when there is a detailed conversation to be had. I personally find this more productive and is a benefit of working with a small accountancy firm that you wouldn't get with the large faceless providers."
ALISTAIR FAIRWEATHER - PROGRAMME & PROJECT MANAGER, DELIVERING/RESCUING I.T. 7 BUSINESS CHANGE WITH BUDGETS UPTO £50M INC SUPPIER MANAGEMENT
"I couldn't ask for more from Paul as an Accountant. Paul has been accountant to Work Relief Charity Recruitment for just over a year now and is proving an invaluable asset. Accurate, knowledgeable, flexible with an emphasis on service delivery, I would recommend Paul's services to any organisation looking for an accounts professional."
Neil Price - Managing Director at Work Relief Charity Recruitment
"Paul was a referral from a family member when I started my business 2 years ago. As this was the first time I had ever run my own company I was totally clueless over the financial side of matters and was worried that I may have made mistakes in any of my accounting. I needn't have worried as after enaging Paul for a set monthly fee he was always there on the end of the phone for all sorts of questions I had and no matter how trivial they were Paul gave me all the information I required and more and did an excellent and painless job at the end of my first year! Couldn't ask for any better to be honest. Just two words - hire him!!!"
Lee Westrap MBCS - Director - Bulldog IT Services