HMRC is due to publish its latest Advisory Fuel Rates from September, with the quarterly review potentially changing how much employers reimburse staff for business travel in company cars.

The rates are also used to calculate how much employees should repay if they use company-paid fuel for private journeys.

While the changes are usually linked to fluctuations in fuel prices, experts warn that using outdated rates could lead to incorrect mileage claims and, in some cases, unexpected tax consequences.

What are HMRC’s Advisory Fuel Rates?

HMRC reviews the rates every three months to reflect average fuel costs for company cars.

They are designed to help employers reimburse staff for business journeys without creating additional tax liabilities and to calculate repayments where company fuel has been used for personal travel.

Joe Lytwyn, personal finance expert at thimbl.com, said: “HMRC’s Advisory Fuel Rates are designed to reflect the average fuel cost of running a company car for business journeys.”

He added: “They’re reviewed every three months because fuel prices don’t stand still, so it’s important that businesses keep up with the latest figures.”

One mistake many drivers make

Lytwyn said many employees wrongly believe the rates apply to everyone who drives for work.

He explained: “One of the biggest misconceptions is that the rates apply to everyone who drives for work. They don’t.”

Instead, the Advisory Fuel Rates only apply to company cars.

Employees using their own vehicles for work are covered by separate HMRC mileage rules.

Could you end up paying more tax?

Using the wrong reimbursement rate can have tax implications for both employers and employees.

Lytwyn said: “If an employer reimburses above HMRC’s Advisory Fuel Rate without being able to justify the higher cost, the excess could become taxable.”

He added that employees who receive less than the advisory rate “may be able to claim tax relief on the difference in some circumstances.”

Keep good mileage records

Experts also say poor record-keeping is one of the biggest reasons mileage claims go wrong.

Lytwyn said: “Poor record-keeping is probably the most common issue. People often forget to log journeys properly, or they mix business and personal mileage together.”

Keeping a record of where you travelled, why the journey was for business and the miles covered can help avoid problems if HMRC or your employer ever questions a claim.

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What drivers should do before September

With fresh Advisory Fuel Rates expected from September, drivers are being encouraged to check that any future claims use the updated figures.

Lytwyn said: “Don’t assume the current rates will remain the same.”

He added: “Once HMRC publishes the updated figures, check whether your employer has updated its mileage policy and make sure any new claims use the correct rates.”

He also recommended keeping mileage records up to date throughout the year, making it easier to challenge incorrect reimbursements or claim any tax relief that may be due.

It’s worth noting that the September rates have not yet been published, so drivers should continue using the current HMRC Advisory Fuel Rates until the updated figures are officially released.

JOSEPH GABRIEL LAGONSIN

News Editor

Adclear found that 89% of the most-viewed social media posts promoting cryptocurrency trading did not comply with Financial Conduct Authority rules. The finding was based on an analysis of 57 Instagram and TikTok posts.

The review looked at posts promoting or advising on crypto products and found that most contained at least one issue under FCA financial promotion guidance. It comes as the regulator prepares a new set of compliance requirements for crypto firms operating in the UK from 2027.

Social media has become an important source of information for retail investors considering digital assets. FCA consumer research cited alongside the analysis found that 29% of people who buy cryptoassets use social media to research them before purchasing.

Risk warnings

The most common problem was the absence of risk warnings. Across all posts analysed, 56% made no reference to the financial risks of trading cryptocurrency.

The rate was higher on Instagram, where 69% of posts made no mention of risk. On TikTok, the figure was 43%.

The review also found that 54% of posts did not disclose that the content was an advert, sponsorship, or partnership. Another 40% lacked balance in how they presented the risks and rewards of investing in crypto, while 30% did not make clear that past performance is not a reliable guide to future outcomes.

A smaller share, 7%, was judged not to be fair, clear, and not misleading under FCA standards. The analysis also found that 11% of posts promised guaranteed returns, even though cryptoassets are widely treated as high-risk products.

Regulatory backdrop

The findings come as the FCA sets out a broader regulatory framework for crypto firms in the UK. The planned changes are expected to introduce tighter rules on financial resilience and market integrity as the sector moves into a more formal supervisory regime.

The context matters because online personalities have become a prominent channel for crypto marketing, particularly among younger consumers. A compliance gap in that channel could draw greater scrutiny as the regulator focuses more closely on how financial promotions are presented to retail audiences.

Adclear’s automated compliance platform reviewed 57 posts tagged with #crypto that were published over a little more than a year. It compared the results with FCA expectations for financial promotions and concluded that non-compliance was widespread among so-called cryptofluencers.

The group said crypto-related influencer content appeared more compliant than posts promoting buy now, pay later products in its separate work, but less compliant than broader financial influencer content. It did not provide detailed comparative percentages in the material released.

Industry response

Joe Jordan of Adclear said the research pointed to basic disclosure failures rather than complex legal issues in many cases.

“As retail investing continues to attract a newer, younger generation of investors, crypto trading is set to become an increasingly mainstream part of our investing landscape. This is an exciting shift, but it also means we should expect to see more people turning to social media for trading knowledge and advice.

“With new rules on the way, this is a great moment for cryptofluencers to double down on aligning with FCA guidelines. Our analysis shows that many posts can improve their compliance with simple fixes, such as risk warnings or fully transparent ad disclosure. It’s an encouraging reminder that compliance isn’t necessarily complex. With the right checks and proper awareness of the rules, financial content across social media can become more trustworthy and transparent for everyone,” Jordan said.

The research adds to a growing debate over the role of online creators in marketing financial products. UK regulators have stepped up scrutiny of influencer promotions across investments, credit, and digital assets, arguing that consumers can be exposed to misleading or incomplete claims when content blurs the line between personal opinion and paid advertising.

For crypto firms, the issue is likely to become more acute as the UK brings the sector further inside the regulatory perimeter. Any business relying on social channels to reach potential customers may face pressure to tighten oversight of paid partnerships and unaffiliated endorsements alike.

The findings suggest that, at least in the sample reviewed, many of the most popular crypto posts still omit the warnings and disclosures UK rules require when high-risk investments are promoted to consumers.

The owners of John Gowing Jewellers Ltd, a shop based at the iconic Oxford Covered Market in operation since 1946, has made clear that the business is not closing after it went into administration.

A spokesperson said: “The recent corporate change relates to the former operating company as part of our corporate re-structuring and does not represent the closure of John Gowing Jewellers.

“Our Covered Market store remains open and is trading as normal, with our existing team continuing to serve customers.”

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The shop is an independent, family-run jeweller and watch specialist that also offers valuations, diamond accessories and repairs.

As of July 28, administrators from Begbies Traynor have been appointed to the company with a notice to strike the business off having been published on Companies House.

The notice was dated for August 4 and said that unless an objection was raised the company would be struck off the register in two months.

In its latest accounts for the 12 months to June 13, 2025, it reported creditors falling within a year of £188,705 as well as an average number of four employees.

John Gowing, who runs John Gowing jewellers in the Covered Market

The spokesperson for the business added that the recent “corporate change” has come about following new owners being appointed.

Indeed, in June 2025 John and Ann Gowing resigned as directors of the company and were replaced by Prasanna Perera according to Companies House.

The spokesperson said: “There has been no interruption to our watch, jewellery, repair or valuation services.

“Under new ownership, additional investment is supporting the next stage of the business.

“Our focus is to preserve the heritage, expertise and trusted local service John Gowing has built in Oxford since 1946, while strengthening the brand and creating opportunities for future growth.”

That the shop is not closing will be a relief for the Covered Market, which is a tourist hotspot and first opened in 1774.

Other companies at the historic venue have struggled in recent times including The Oxford Cheese Company, which said it was in “survival mode” earlier this year.

A spokesperson for the Oxford Cheese Company explained: “We’ve survived Covid, the Jesus College conversion, which virtually closed access to Market Street from Cornmarket, (no apologies or any compensation from the college), and the pedestrianisation of Market Street just recently.

John Gowing Jewellers (Image: Supplied)

“All of the above were beyond our control and meant resilience from our staff and our customers.”

Four years ago John Gowing Jewellery celebrated 75 years in operation.

At the time Mr Gowing – who was running the shop with his wife – was 66 years old and was celebrating half a century in the business with no plans to retire.

In addition he was hopeful about the future prospects of the market.

Speaking in the months after the Covid-19 pandemic, he said: “I do feel that the city council (the landlord of the Covered Market) has its heart in the right place and wants it to do well.

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“There are a number of empty units but at the same time there are plans for those units to be filled – I think four new businesses are currently being lined up to take over different units.”

There have been several break-ins at the shop in recent times including in 2018 when thieves reportedly took several rings and earlier that year when a topless man stole a Rolex watch.

In addition one man was jailed for almost five years for his part in an attempted robbery at the jewellers in 2013. His accomplice died after he collapsed.