Poole: 01202 663600
New Milton: 01425 610166
Please note: Princecroft Willis and Francis Clark have merged. Although it is ‘business as usual’ this site will not be updated and will be phased out over the coming months. For all the latest information please visit the Francis Clark website.
1st April, 2016 - Francis Clark, the largest independent firm of Chart...
To view our Budget Summary, please click here
Chartered accountants and business advisers Princecroft Willis (PcW) a...
Phishing is the fraudulent act of emailing a person in order to obtain...
The Enterprise Investment Scheme (EIS) is now over 20 years old. This ...
UK company law already requires certain information on company directo...
New company car advisory fuel rates have been published to take effect from 1 September.
|1400cc or smaller||15p||10p|
|1401cc to 2000cc||18p||12p|
|1600cc or smaller||12p|
|1601cc to 2000cc||15p|
|Bigger than 2000cc||18p|
These rates apply to all journeys on or after 1 September 2012 until further notice. For one month from the date of change, employers may use either the previous or new current rates, as they choose. Employers may therefore make or require supplementary payments if they so wish, but are under no obligation to do either. These figures may also be used for VAT purposes.
Petrol hybrid cars are treated as petrol cars for this purpose.
Other points to be aware of about the advisory fuel rates:
• Employers do not need a dispensation to use these rates.
• Employees driving employer provided cars are not entitled to use these rates to claim tax relief if employers reimburse them at lower rates. Such claims should be based on the actual costs incurred.
• The advisory rates are not binding where an employer can demonstrate that the cost of business travel in employer provided cars is higher than the guideline mileage rates. The higher cost would need to be agreed with HMRC under a dispensation.
This is an extract of the detail, the link to the full detail, including earlier figures, is as follows: HMRC advisory fuel rates
If you would like to discuss your car policy, please call John Caithness on 01202 663620.