Her Majesty’s Revenue and Customs has published the levels that business mileage can be reclaimed.
The rates are effective from January 1, 2008.
For petrol powered company cars up to 1.4-litres, the rate is 11p per mile, rising to 13p per mile for cars between 1.4 and 2.0 litres.
For petrol cars above 2.0-litres, the rate is 19p per mile.
For diesel powered company cars, the rates are 11p per mile for cars below 2.0-litres and 14p per mile for anything above.
The rates are based on unleaded petrol at 102.1p per litre and diesel at 106.3p per litre.
For further information on the new rates go to: http://www.hmrc.gov.uk/cars/advisory_fuel_current.htm.