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New Fuel Labels to be Introduced at Filling Stations Across UK

New Fuel Labels to be Introduced at Filling Stations Across UK

​Exciting news is to hit our local petrol stations later this year. As part of European-wide legislative changes, new fuel labels will be rolled out across the nation’s filling stations by September 2019 in an attempt to help inform drivers of the biofuel content of both petrol and diesel. With reference to petrol, which contains up to 5% renewable ethanol, will be labelled ‘E5’, while diesel, containing up to 7% biodiesel will be labelled as ‘B7'.

Astonishingly, across 2018, the carbon dioxide (CO2) savings from using a combination of biofuels in road transport was equivalent to taking over one million cars off of the UK’s roads completely. There are additional ideas to introduce another fuel type, E10, into the market in the future, which is a petrol grade with up to 10% renewable ethanol. Introducing these fuel types on labels at petrol stations will encourage drivers to choose the right fuel for their vehicle, whilst also highlighting the use of biofuels as a whole in reducing the CO2 emissions from everyday traffic across UK roads.

To encourage the use of biofuels to improve one’s carbon footprint to reduce CO2 emissions, Marshall Leasing is at hand to advise on the right fuel type for your fleet. Employees will be taxed if their employer provides any free fuel. This could be as a result of using a company fuel card and not repaying the private usage element, or if the employer pays for travel between home and work. As the full taxable benefit depends on the CO2 emissions percentage charge, employees should check that the offer of any free private fuel is worthwhile.

It is not too late to reimburse your employer for any private mileage used in order to avoid this tax, but you then need good records to substantiate the business element of fuel costs covered by the company.

The taxable amount is based simply on £23,400 (or £24,100 for the next tax year) multiplied by the same percentage as the car benefit, derived from the CO2 figure and fuel type. The annual fuel benefit can now be prorated if stopped part-way through the tax year.

To find out more on how Marshall Leasing can help with all of your fleet requirements, please visit our dedicated ‘Fuel Benefit’ page on our website here, or please call us directly on 01480 414541.

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Marshall Leasing is a broker, not a lender and is a subsidiary of Northridge Finance.

MARSHALL LEASING LTD is a company registered in England and Wales under company number 156897, whose registered office is situated at Bow Bells House, 1 Bread Street, London EC4M 9BE