- No more manually checking advisory fuel rates
- No more excel spreadsheets
- No more inaccuracies
Advisory fuel rates (AFR’s) update once a quarter, and unless your business has decided to fix your fuel rate and go through the horrible reclaim or over-claim process, a business monitors these changes, decides at which point in the month to introduce them and potentially calculates claims at two or more different rates.
ABAX hates manual processes so we have come up with a better way - ‘Autorates’. Autorates is a system that links directly with HM Revenue and Customs (HMRC’s) latest AFR’s and Approved Mileage Allowance Payment (AMAP’s) figures. If these numbers fluctuate, our system recognises this and instantly matches any changes to your fleet.
For example, the March 2017 fuel rate for a >2000cc petrol car is £0.22 per mile; this was a £0.01 increase from the previous period. Let us say that your business submits mileage claims on the 15th of each month and during this period, you completed 1750.4 miles equally split across February and March. Our system would break this down and automatically calculate the following:
March 2017 rate: £0.22 per mile for 875.2 miles = £192.54
Previous rate: £0.21 per mile for 875.2 miles = £183.79
Total = £ 376.33
How does this work for grey fleet AMAP’s?
This also works for AMAP’s associated with grey fleet vehicles. Although AMAP’s have not been updated since 2011, the rate drops from £0.45 to £0.25 per mile if the threshold of 10,000 business miles in a year is met. Our system recognises the exact point that you cross this threshold and automatically switches your rate- even if that threshold is met mid trip.
What happens if you do not currently follow the rates?
During customer testing, this new system offered such dramatic improvement to the manual process; all company car customers actually amended their company car policy based on our system. If however, you do not think that would work for you, do not worry, you can customise your own rates at company, department and even individual level.
I have pool cars – how will this work for me?
The more complex the manual process the more invaluable this system is for you! Administrating drivers that regularly switch from vehicle to vehicle can be an incredibly difficult process. However, our system recognises which driver, which vehicle and automatically calculates the correct rate versus distance. Even if the driver switches cars every day, mixing engine sizes and fuel types – it does not matter, it is all automatic.
With our own in-house research, development and creativity teams ABAX are constantly pushing the boundaries. Aall updates are designed to reduce fleet costs, increase efficiency and ensure fleet HMRC compliance. If you would like to know more – please get in touch on 01733 698 888 or firstname.lastname@example.org