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British motorists are being warned of major changes taking place today which could see them receive less money for the vehicles they drive. The latest advisory fuel rates from the HMRC will take effect from today, Sunday, September 1, and could see some motorists aggrieved by the changes.
The rates are for employees using a company car and can be used to either reimburse employees for business travel or to repay the cost of fuel used for private travel.
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Electric car drivers could meet the new rates with fury after the HMRC confirmed that rates would fall again, dropping from 9p since May.
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The changes will be introduced from today, September 1
PAThe British Vehicle Rental and Licensing Agency (BVRLA) has urged drivers to make themselves aware of the changes to ensure they are not caught out.
It stated: "Members and their customers are advised to shop around when it comes to home charging and make sure they are getting the best energy tariff available to suit their circumstances."
This is the third update of the year with HMRC reviewing the rate on a quarterly basis. Drivers will see the fourth and final change on December 1.
GB News has rounded up the most important changes for petrol, diesel and electric vehicle drivers that are being introduced today.
Advisory fuel rates from September 1, 2024
Petrol
Engines up to 1,400cc - reduced to 13p
Between 1,401cc and 2,000cc - reduced to 15p
Over 2,000cc - reduced to 24p
Diesel
Engines up to 1,600cc - reduced to 12p
Between 1,601cc and 2,000cc - reduced to 14p
Over 2,000cc - reduced to 18p
LPG
Engines up to 1,400cc - remains at 11p
Between 1,401cc and 2,000cc - remains at 13p
Over 2,000cc - remains at 21p
Electric
All EVs - reduced to 7p
Any hybrid vehicles are treated either as petrol or diesel vehicles for advisory fuel rates.
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Electric vehicle owners will also see their rates change
PAThe petrol and diesel rates are measured using data from the Department for Energy Security and Net Zero (DESNZ), while LPG is from the Automobile Association website.
Electric vehicle rates will be based on data from DESNZ, the Office for National Statistics (ONS), car consumption rates from the DfT and annual car sales volumes to businesses.