Advisory fuel rates updated for next quarter

fleetmiles advisory fuel rates updated from next quarterUPDATE FROM FLEETMILES Advisory fuel rates updated for next quarter

HMRC has released its latest advisory fuel rates (AFRs), to come into force from June 1.

There is only one change – the rate for petrol engined vehicles above 2000cc has decreased by a penny per mile.

All other rates are unchanged. See full story from Fleet News  http://bit.ly/2qv379v

 

Fleetmiles is an intuitive system that helps businesses to automate and manage mileage claims and expense records with 100% accuracy. We use GPS to record your driver’s trips and automatically build their expense claims. No journeys are ever missed, lost, or need to be estimated. Contact us now to discover how Fleetmiles could bring real benefits to your business operations 01420 544 514.

 

 

HMRC urged to base tax relief for lessors on real-world depreciation

The Government is being urged to adopt a fairer, more transparent tax relief system to accommodate new lease accounting rules.

The changes, which take effect from January 1, 2019, will mean leased assets (including vehicles on operating leases) are brought on to companies’ balance sheets. They are being introduced by the International Accounting Standards Board (IASB) with the aim of giving a more complete picture of a company’s financial position.

Full story http://bit.ly/2h5xtbX

Mileage expenses causing you headaches? Put Fleetmiles to the test in your business today. Call 01420 544514 or visit www.fleetmiles.co.uk

Still using paper-based claims systems for expenses management?

webcompEveryone wins with automated mileage and expenses management tools

Our customers tell us that after salaries, travel and entertainment is the highest controllable expense category for businesses.
There has always been a need to have some sort of expense claims process in place, but this is not always straight forward and some systems are over complicated and not easy to use.
Manual or paper-based systems bury finance departments and employees in a sea of paper with checking and reconciling claims. Spreadsheet reporting is equally inefficient and could be costing your company more than you realise.

 

Increase resource accuracy and efficiency
With the increase in business travel and mileage claims, you need to be sure your process is working in an efficient and effective way.
An automated platform makes it easier for employees to submit claims and for finance teams to process them directly into the accounting system, without the need for manual data entry. A platform such as this can be scalable and customised to fit any size of business and creates a streamlined accurate process where all data is stored in the cloud with real-time access to increase efficiency.

Capture receipts instantly
How many people have been in this situation – you drive to a meeting, have lunch with a client, pay for parking and you’ve lost the receipt(s)? Then how much time is taken retrospectively filling in paperwork to file your claim?
By using an online expense management system, employees can use an app to photo-capture receipts as they receive them and submit claims quickly on-the-go to speed up processing and remuneration.

Prevent exaggerated mileage claims

With a manual system there is often no evidence of any private journeys undertaken, such as a daily home-to-office commute or weekend trips. In addition, poor private journey record-keeping often provides no auditable evidence of a journey taking place.
More importantly, if your company doesn’t keep accurate, auditable accounts or HMRC spot inconsistencies during a business record check, you could be facing a penalty of up to £3,000 per driver for lack of business mileage compliance.
With an automated expense management platform, mileage is automatically and accurately captured as you drive, you can check or add to claims anytime, anywhere and verify the status of a journey as business or private.

VAT rules needn’t be complicated
An automated expenses tool can ensure correct company policy and compliance around HMRC issues and by automatically synchronising individual claims to the correct AMR’s (Annual Mileage Rates) and supports a full reclaim of allowable VAT.

Fleetmiles can help you manage, maintain and control your vehicle fleet expenses. The system captures all mileage and other expenses any time, any place, and can integrate with your ERP system. Mileage is guaranteed to be accurately captured and your drivers will find it easy to use, with just three taps on a smartphone, it’s job done. To find out more about Fleetmiles, contact our Service Team 01420 544514 or email marketing@fleetmiles.co.uk

Fleetinsight Expenses, Tracking and 360° Camera Systems

Telematics solutions have revolutionised the way fleets do business and have far reaching effects on both the operation and the bottom line. Fleetinsight’s comprehensive range of  products include GPS Tracking, 360° Cameras and Mileage Capture Systems. All can be combined to create a fully integrated system and all are designed to help you manage and monitor every aspect of your fleet operations.

 

 

 

 

fleetinsightmontageWith the Fleetinsight GPS Vehicle Tracking System you can manage your fleet 24/7. Live GPS vehicle tracking technology and a web based platform gives you access to real-time information on the location and status of every vehicle in your fleet. You can sort and search vehicles by name, status or category, or quickly search by proximity to an address or customer from any internet-connected device. Call us on 01420 544514 for more information.

 

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webcompFleetmiles is a fully automatic mileage and expense management system that has been designed to be detailed, comprehensive, intuitive and not reliant on dongles or mobiles to run the system. Drivers can access the system via a desktop or on-the-go using the mobile app to capture receipts and verify automatically logged business journeys. Fleetmiles also allows managers to audit fuel card data for verification of genuine business mileage. Full reporting is available along with an accurate log of every individual journey. Call us on 01420 544514 for more information.

 

 

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The Complete 360° Commercial Fleet CCTV System combines advanced, innovative technology with the most reliable hardware on the market. Our comprehensive range of mobile DVR, 360° multi-view and blind-spot cameras ensure that your fleet is completely protected. Call us on 01420 544514 for more information.

 

For more information call our customer service team today 01420 544514

 

One-fifth of workers ‘fiddling’ their expenses

expenses electronic versus paperIt Pays To Know Your Numbers
The majority of employees are still not using automated tools for claiming expenses, according to research unveiled at the Business Travel Show in London.

Only 42 per cent of UK office workers use an automated expense management system, revealed a survey carried out by technology firm KDS.

The study of 1,235 employees also found that around 20 per cent admitted to “fiddling” their expenses, although this was usually to claim “modest amounts”, such as rounding up car mileage by “one or two miles” or increasing a taxi fare using a blank receipt by a couple of pounds.

KDS revealed that 48 per cent of workers currently submit expenses on an “offline” spreadsheet system such as Microsoft Excel while 4 per cent still use handwritten forms.

The study found that 88 per cent complete their expenses during company time, while those working for bigger firms (more than 500 employees) were able to complete the process more quickly by using automated tools than workers using other more manual methods.

Dean Forbes, CEO of KDS, said: “It would appear that most employers still expect employees to fill in old-fashioned spreadsheets or even write out their claims with a pen.”

“The results show that users of automated expense management tools divert less of their work time to getting their expenses done and also get their money back faster.”

The survey revealed that many workers thought that their company’s expenses systems were “painful”, while one comment described the system they used as “complex, slow, repetitive and very bureaucratic.”

From our own research at Fleetmiles, we actually believe that the estimate of 20% is low. When reality strikes at month end, you may realise that your credit card bill is substantially higher that the receipts you have in their various forms. Therefore, there is a tendency to ‘make up the weight’. Most we interviewed felt more than justified to take this action. Comments like, “Well we didn’t want to dip out,” and “Why should I subsidise the company?” were offered.

Maybe that’s considered ‘just’, but ‘creative expense management’ is neither accurate nor legal.

Working with your staff on a near fool-proof solution must be the answer.
Fleetmiles is the answer – call 01420 544514 or visit  http://www.fleetmiles.co.uk/

Salary Sacrifice, Have Your Say

At Budget 2016 the government announced it will consider limiting the range of benefits-in-kind that attract Income Tax and National Insurance Contributions advantages when provided as part of salary sacrifice arrangements.

For fleets currently operating any form of salary sacrifice scheme, the implications could be considerable. HMRC have issued a consultation document to gather industry views on the proposed legislation. The consultation period closes on 19th October, to view the document click here http://bit.ly/2b6CFYq

The purpose of the consultation is to explore potential impacts on employers and employees should the government decide to change the way the benefits code applies when a benefit-in-kind is provided in conjunction with a salary sacrifice or flexible benefit scheme.

The government is keen to seek views from a wide range of stakeholders, including employers who operate salary sacrifice and flexible benefit arrangements, their representatives, trade organisations and any other interested parties.

webcompFleetmiles can help you manage, maintain and control your vehicle fleet expenses. The system captures all mileage and other expenses any time, any place, and can integrate with your ERP system. Mileage is guaranteed to be accurately captured and your drivers will find it easy to use, with just three taps on a smartphone, it’s job done. To find out more about Fleetmiles, contact our Service Team 01420 544514 email marketing@fleetmiles.co.uk

51% offer a car salary sacrifice scheme to boost staff morale

fleetmiles fleet of company carsJust over half (51%) of employer respondents who offer a car salary sacrifice scheme to staff provide the benefit to raise employee morale, according to research by finance organisation Maxxia. Read the full story: http://bit.ly/2aSSNhj

Fleetmiles can help you manage, maintain and control your vehicle fleet expenses. The system captures all mileage and other expenses any time, any place, and can integrate with your ERP system. Mileage is guaranteed to be accurately captured and your drivers will find it easy to use, with just three taps on a smartphone, it’s job done. To find out more about Fleetmiles, contact our Service Team 01420 544514 email marketing@fleetmiles.co.uk

UK diesel prices top EU league table despite sterling slump

Despite the slump in the value of the pound against the euro, the UK still heads the EU league table of diesel prices, reports the RAC Foundation. Read full story http://bit.ly/2ay2STD

Are your costs under control for your fleet insurance, fuel, service and maintenance? Fleetinsight will discreetly manage the spikes and pinch points in your fleet operations. To find out how, or arrange a demo email: sales@fleetinsight.co.uk or call our customer services team on 01420 544514

Grey fleet costing business billions, says BVRLA

The nation’s grey fleet – private vehicles used for business – consists of 14 million cars – 40% of all vehicles on the road – and costs employers more than £5.5 billion a year in mileage claims and car allowances, new research suggests. Full story http://bit.ly/2a8lLuv

Fleetmiles puts you in control  by accurately capturing all mileage and expenses any time, any place anywhere. Our unique algorithm can calculate just how much money you can save. Find out how, call our service team for more info 01420 544514.

Brexit could put fleet budgets under pressure

In a Fleet News poll undertaken in the wake of the referendum result, just 36% believed their costs would not be impacted, compared to 61% of fleets prior to the vote.

Colin Tourick, Grant Thornton professor of automotive management at the University of Buckingham business school, told Fleet News: “The long-term impacts of Brexit are unknown and as yet unknowable, but there are clearly going to be bumps in the road.

“In the short term, fleet budgets are likely to be blown out of the water. Fuel costs and new vehicle costs will rise, because sterling will fall.”
To Read the article in full visit Fleet News http://bit.ly/2a1IrKp

Find out how Fleetmiles expenses management can help future-proof your business against the financial impact of Brexit