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Five unexpected ways our data has saved fleets time and money

It's easy to imagine that mileage capture is just about paying fuel expenses or keeping an eye on contract mileages. But a key benefit of mileage capture is the really valuable insights it delivers when it's overlaid with other fleet data streams such as fuel reporting, telematics and vehicle specifications. Here are five, sometimes unexpected, ways that data insights from TMC have helped customers manage employees' mobility better. 1

Managing your grey fleet – your duty of care obligations

From a fleet management perspective, a grey fleet is easy to ignore, precisely because it is unowned. But to do so jeopardises the health and safety of your employees, and the reputation of your company. By fulfilling your duty of care obligations in this area, your business will also benefit as an efficient grey fleet leads to improved business performance. We have put together a list of what should be considered to ensure good grey fleet

What do we do about BIK Fuel?

BIK Fuel is a great benefit – if you and the driver like jointly paying £2 or more for the same litre of diesel. Not surprisingly, many drivers now want to be free of this punishing ‘perk’. The good news is that, as long as companies pay attention to the factors below, BIK Fuel can be withdrawn in a way which makes everyone a winner. 1. Understand each driver’s business/private mileage split. This defines whether they should be bou

Business Mileage Tax Issues

95% of tax issues around business mileage relate to Benefit in Kind and VAT. Fuel Benefit in Kind tax (or BIK Fuel) is expensive and inefficient. Even so, around a quarter of company car drivers still receive it. Somewhat perversely, the tax is a more serious problem (potentially) for the drivers who don’t get it, and for their employers. Why? Because a company car driver is liable to pay it if their employer pays them for ANY private fue

Lets Explore: LCV Fleet 2017 Event – 4th July 17, The Vox, Resorts World, Birmingham

Do you run an LCV fleet? If so, why not join us at Lets Explore: LCV Fleet 2017 where an exciting line-up of expert speakers will explore the challenges facing LCV fleets over the next 5 years. The event will explore the future of… Fuel Insurance Connected vans Compliance and best practice Tax and vehicle finance Leasing The event on is 4th July at The Vox, Resorts World, Birmingham. Click here to find o

Fuel Reimbursement. Is it best to use flat rates or the actual cost of fuel?

A huge number of variables affect fuel consumption, making it extremely rare for drivers to obtain exactly the same mpg, even from identical cars. So is it wise to set flat pence-per-mile rates for fuel expenses? Flat Rates are easy to work with. Most fleets that use them apply the Advisory Fuel Rates (AFRs) published by HMRC. Flat Rates don’t require you to capture fuel information (apart from receipts for reclaiming VAT if you don’t use

Fuel Reimbursement

Reimbursement might appear to simply be a question of settling up with employees, but the expenses process comes with costs and risks attached. Read our tips on spotting risks and costs and what makes a good reimbursement process.

Why mileage needs to be audited

When it comes to claiming mileage, the following tactics are commonplace if drivers don’t believe they will be caught out: Exaggerating the length of journeys by rounding up mileage. This is the most commonly used method for inflating claims and can be endemic in companies Claiming for journeys they made but did not pay for (e.g. colleagues share a car and each claims the mileage) Making unnecessary journeys to capitalise on over ge

TMC cost-saving data solution for CV fleets wins international award

TMC has been presented with an award for Best Use of Data by the International Auto Finance Network (IAFN) for its enhanced data solution, which will save just one of the company’s commercial fleet customers over £1 million in 2017. “This simple yet sophisticated solution reduces fleets’ admin and compliance burden and delivers real savings,” said the IAFN judges of the service, which consolidates, analyses and audits mileage and fuel

5 marvellous things you can do with fuel and mileage data

Reporting – “You can’t manage what you don’t measure” Peter Drucker

Mileage - the key to controlling fuel costs. Reporting makes fuel cost control possible. Knowing your fleet’s total annual fuel purchases and vehicle mileage won’t help. The answers are all in the detail: • Business vs. private mileage splits • Specifics of each business journey (needed for audit purposes and HMRC compliance) • Actual mpg (obtained by dividing recorded mileage by litres of fuel used) • Actual fuel cost

A Better Way By Miles