Mileage tracking results in spending efficiency for business and tax savings for staff
In these current times of rising fuel and other costs, a major benefit of ABAX telematics solutions is the ability to accurately track and record mileage.
The money-saving and time-management benefits of this software are currently being enjoyed by Coventry-based FANUC – a factory automation business employing 145 staff.
The ABAX business mileage tracking feature offers 100% accuracy as well as being HMRC compliant. All FANUC employees that have opted out of the fuel BIK (Benefit in Kind) for mileage allowance now have ABAX Triplogs installed in their vehicles. They are required to submit monthly reports to ensure that all fuel for private mileage is paid for by the drivers themselves.
“The ABAX system provides us with the necessary information to do this and meets HMRC requirements. This has resulted in tax savings for the employees and in savings to the company. We no longer pay for private mileage and make savings on employers’ National Insurance Contribution costs associated with the fuel BIK.”
Utilising both the software and hardware solutions, users like FANUC can rest assured that they have the best way of getting an accurate record of their journey and mileage claims under the business mileage claim option.
Key features include:
- Real-time GPS tracking on how many miles drivers are travelling daily and the option to look for more efficient routes to cut back on time and fuel.
- Data is updated in real-time, meaning there is no delay and you can see each mile tick over as your driver navigates the road.
- The data collection is HMRC compliant and automatically calculated. Paperless records are also stored for up to seven years, which means should HMRC need to look at any old records for an investigation, you will have this ready to present.
- All mileage records are automatically calculated and compiled to make the process as easy as possible, saving you money and time.
- You can manage your entire fleet on the go with the mileage claim app which can be accessed on your smartphone or tablet.
For more information on this and other ABAX telematics solutions click below:
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