Company car benefit: 2022/23 rates for petrol and hybrid cars updated
01 June 2022
Her Majesty’s Revenue and Customs’ (HMRC’s) guidance on company car benefits has been updated to show the rates for the current tax year.
CO2 emissions g/km |
Electric mileage range |
NEDC % |
WLTP % |
0 |
— |
2 |
2 |
1 to 50 |
130 and above |
2 |
2 |
1 to 50 |
70 to 129 |
5 |
5 |
1 to 50 |
40 to 69 |
8 |
8 |
1 to 50 |
30 to 39 |
12 |
12 |
1 to 50 |
less than 30 |
14 |
14 |
51 to 54 |
— |
15 |
15 |
55 to 59 |
— |
16 |
16 |
60 to 64 |
— |
17 |
17 |
65 to 69 |
— |
18 |
18 |
70 to 74 |
— |
19 |
19 |
75 to 79 |
— |
20 |
20 |
80 to 84 |
— |
21 |
21 |
85 to 89 |
— |
22 |
22 |
90 to 94 |
— |
23 |
23 |
95 to 99 |
— |
24 |
24 |
100 to 104 |
— |
25 |
25 |
105 to 109 |
— |
26 |
26 |
110 to 114 |
— |
27 |
27 |
115 to 119 |
— |
28 |
28 |
120 to 124 |
— |
29 |
29 |
125 to 129 |
— |
30 |
30 |
130 to 134 |
— |
31 |
31 |
135 to 139 |
— |
32 |
32 |
140 to 144 |
— |
33 |
33 |
145 to 149 |
— |
34 |
34 |
150 to 154 |
— |
35 |
35 |
155 to 159 |
— |
36 |
36 |
160 and above |
— |
37 |
37 |
The tables outline how to work out the percentage benefit for both petrol-powered cars and hybrid-powered cars. The figures for the 2022/23 tax year will be frozen until 2024/25.
There is more detailed guidance for more information on how to work out the benefit of a company car. There are special rates for cars with different fuel types, or cars without an approved CO2 emissions figure. Where 2 cars are provided consecutively, the benefit chargeable for each car will depend on the length of time each car was unavailable to the employee
Information provided in this news article may be subject to change. Please make note of the date of publication to ensure that you are viewing up to date information.