June 2022

Please do contact us if you have any questions.  

Advisory fuel rates for company cars
New company car advisory fuel rates have been published and took effect from 1 June 2022.

The guidance states: 'you can use the previous rates for up to one month from the date the new rates apply'. The rates only apply to employees using a company car.

The advisory fuel rates for journeys undertaken on or after 1 June 2022 are:

HMRC guidance states that the rates only apply when you either reimburse employees for business travel in their company cars or require employees to repay the cost of fuel used for private travel.

You must not use these rates in any other circumstances.

The Advisory Electricity Rate for fully electric cars is 5p per mile. Electricity is not a fuel for car fuel benefit purposes.

If you would like to discuss your company car policy, please contact us.

New law to protect access to cash announced in Queen's Speech
New laws to protect access to cash and help victims of financial scams were announced in the Queen's Speech at the state opening of parliament on 10 May.

The new Financial Services and Markets Bill will ensure the continued availability of withdrawal and deposit facilities across the UK.

The Bill will also enable the Payment Systems Regulator to require banks to reimburse authorised push payment (APP) scam losses, totalling hundreds of millions of pounds each year. This will ensure victims are not left paying for fraud through no fault of their own.