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New Business Mileage Rates from 1-12-2016

Published 02 December 2016

Tax-free rates to claim back business miles in private cars or to repay companies for private miles in company cars were increased from 1st December 2016.

Company car business mileage rates are used to claim back business mileage in employee-owned cars or to repay private mileage in company cars if fuel is provided by the company so to avoid car fuel benefit tax.

  • Engine size 1400cc or less: 11p – unchanged
  • 1401cc to 2000cc: 14p – 1p increase
  • Over 2000cc: 21p – 1p increase

Diesel: Company car mileage rates from 01 December 2016

  • Engine size 1600cc or less: 9p – unchanged
  • 1601cc to 2000cc: 11p – unchanged
  • Over 2000cc: 13p – unchanged

Hybrid fuelled company car mileage rates

  • Drivers of petrol/electric hybrid company cars should use the petrol rates.
  • Drivers of diesel/electric hybrid cars should use the diesel rates.

LPG fuelled company car mileage rates:

  • Engine size 1400cc or less: 7p – unchanged;
  • 1401cc to 2000cc: 9p – unchanged;
  • Over 2000cc: 13p – unchanged

 

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Amount to borrow
Sorry. The minimum loan amount is £1000
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Best available rate 9.20%

Total repayment £9,304.93

Total cost of credit £1,804.93

£155.08

60 monthly payments

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Representative example

The Representative APR is 13.2% (fixed) so if you borrow £7,500 over 4 years at a rate of 13.2% p.a (fixed) you will repay £199.21 per month and repay £9562.20 in total.

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