TMC publishes updated advice on business mileage payments for EVs and hybrids
The UK-based fuel management specialists of The Miles Consultancy have published updated advice on business mileage payments for electric vehicles and plug-in hybrids.
With the UK's plug-in vehicle fleet projected to reach half a million units by 2021, TMC has updated its guide to reimbursing drivers of company-run or grey fleet electric and plug-in hybrid vehicles, first issued last year. The update reflects the latest HMRC advice on reimbursing employees for electricity supplied at their home and/or at their workplace.
Paul Hollick, managing director of TMC, said: "Reimbursement remains a significant area of uncertainty for companies considering adopting electromobility, so everyone will be watching how HMRC respond to the new petition organised by the Association of Car Fleet Operators asking it to publish AFRs for plug-in cars, which we are very much behind."
"In the meantime, the key point businesses and drivers should bear in mind is that fuel cost-savings from EVs are already here for the taking. Our guide describes how to capture those savings today by paying rates that fairly reflect EVs’ real-world cost-per-mile potential, using methods that fully comply with the rules on fuel reimbursement. Don’t let the lack of an ‘official rate’ hold you back."
TMC’s guide also contains advice on settling claims for business mileage incurred by private plug-in owners, describing how fleets can calculate the correct adjustments to AMAPs