TMC updates guidance on EV fuel reimbursement rates

TMC has updated its guide to reimbursing drivers of company-run or grey fleet electric and plug-in hybrid vehicles.

Electric vehicle fuel rates – a TMC guide shows how fleets using electric vehicles (EVs) and plug-in hybrid electric vehicles (PHEVs) can calculate their own rates in the absence of Advisory Fuel Rates (AFRs) and Approved Mileage Allowance Payments (AMAPs), which still only cover petrol and diesel vehicles.

First issued last year, the guide has been updated in line with 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 ACFO 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 audited fuel data and driver reimbursement services cover more than 100,000 fleet vehicles in the UK and Europe. The company offers its customers automatic calculation and settlement of plug-in drivers’ fuel expenses alongside its products for combustion vehicles.

Some of TMC’s customers feed data from their workplace EV charging stations directly to TMC. TMC then combines this data with information from its mileage capture and expense management tools, including the drivers’ use of public charging facilities, to automatically calculate accurate monthly reimbursement figures.

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.