Businesses whose employees use a company car have a duty to report it to HM Revenue & Customs (HMRC), particularly if the vehicle is used for personal trips like driving to and from work.
The survey also showed that 36% of employees update their mileage log less than once a fortnight, and this can leave room for error. ABAX’s products can help with this and bring companies savings of up to 20 per cent in terms of fuel costs and working hours, as well as ensuring they are compliant with the HMRC.
A Cambridgeshire-based engineering company received a spot check visit from HMRC in early 2015. On inspection, it was found employee mileage claims were being estimated and could not be reconciled to fuel card invoices.
The company now faces a potential fine for an incorrectly compiled business / private mileage log and driver facings a full fuel benefit charge for just a small number of unaccounted for miles.
News outlets have picked up the story, many sites listing this as their top article. ABAX work with both employers and employees to help them reduce benefit tax payments and eliminate the risk of penalties and fines from HMRC.
Fleet News describe ABAX Triplog as "keeping businesses in line with HMRC regulations",