A survey from YouGov has revealed that 56% of employees who drive a car for business purposes are unaware of the tax regime for reclaiming business mileage.
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.
Cambridgeshire-based engineering company Ivor Searle 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 the driver facing a full fuel benefit charge for just a small number of unaccounted for miles.
The seminar is to be held at the ABAX Stadium, home of Peterborough United, on the 9th of June and is free to attend for all businesses. For more information and to register, click here.
/ Chris Miller