Unless you use the scale charges, every claim for fuel VAT must be supported by mileage logs. It is very important to ensure that these records are accurate and that they comply with HMRC requirements.
By maintaining an accurate log of private and business mileage we can determine how you should best report your VAT reclaim to ensure you receive the most amount of VAT back from HMRC. Each month you will receive a report that enables you to recover your VAT in the most efficient manner possible.
Net cash calculations
If your business offers drivers a cash allowance in lieu of a company car then you can make immediate savings in class 1A national insurance by making the most of the approved mileage allowance payments (AMAPs).
By changing the way the cash allowance and mileage expenses are paid both your business and your employees could be better off. The employee relinquishes part of their cash for car allowance in favour of tax-efficient reimbursements via AMAPs.
The adjustment to the cash allowance reduces the employee’s liability for income tax and NI while the mileage allowance payment is free from tax and NI contributions. As well as its advantages for employees, the process generates Class 1A NI savings for your business due to the reduction in cash allowances.
Each month, we use the captured mileage to create the necessary payroll reports for your business.
Expenses and subsistence
Our Expense System is a tailorable and easy-to-use online tool for processing non-fuel/mileage expenses. It’s highly configurable and easy to implement but it’s no lightweight in the performance stakes. You can tailor expense categories as needed, including VAT rates and expense limits that correspond to employee grades.
There is no limit on expense categories. The system allows for approvals by line manager and accounts team, with automatic email notifications for managers and staff when claims are made and if they are rejected. As well as cutting the administrative overheads associated with processing claims, the system streamlines payment and provides a range of clear yet detailed monthly and annual reports.
Fuel benefit in kind
Providing employees with a fully expensed fuel card is a popular benefit, however in most instances, employees are generally left to determine whether they are better to have the benefit, or to repay the private element of their fuel use, thereby saving taxation on the fuel scale charge.
By using our mileage capture and auditing solution, businesses will be able to ascertain which drivers should “buy-out” their private fuel and which drivers benefit from remaining on the scheme. At the start of this process, all drivers will receive a personalised statement along with a recommendation as to which scheme would provide the most efficient solution for their individual circumstances. The statement would also provide each driver with the steps that they need to follow if they wish to accept the recommendations or not.
Duty of Care and grey fleet
Our Duty of Care and grey fleet solutions mitigate the financial and legal risks associated with driving on business by company vehicle drivers, cash allowance takers or grey fleet users. The Duty of Care process requires drivers to positively confirm that they comply with the policy each time they use the mileage capture system to record their mileage or return a ‘nil’ entry. The scope and wording of the compliance statement can be tailored to each customer’s requirements.
For grey fleet drivers, where one of the challenges for employers is to maintain up-to-date information on non-company vehicles, the solution can be used to capture a range of data including vehicle information, insurance policy details, driver licence penalty points, and expiry dates for vehicle excise duty and MOT.
Mobility and alternative fuel vehicles
Companies are increasingly looking to centralise management of travel and transport under the umbrella term ‘mobility’ in order to eliminate wasteful activity, raise productivity, reduce emissions and take advantage of emerging solutions such as electric vehicles, corporate carsharing and online collaboration tools.
In addition to our mileage, subsistence and employee expense tools, we can offer bespoke data feeds and consultancy to help with planning and implementation of mobility strategies, take-up of EVs and sustainability projects.
Carbon reduction and ESOS
TMC Carbon Report and Reduction uses data we hold on vehicle registration numbers, fuel consumption and business/private mileage splits to create reports on CO2 emissions and energy consumption (in kWh). We have worked with companies including Interserve Plc on successful carbon reduction programmes. Companies covered by the new Energy Savings Opportunity Scheme (ESOS) can use our data and expertise to meet its requirements for measuring energy consumed by transport and identifying ways to use less.