A recent survey from YouGov, commissioned by ABAX, 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.
ABAX develops technology and products to support businesses and individuals who use a vehicle for work, by helping them to remain compliant with HMRC regulations.
Neil Shacklocks are specialist plumbing, heating and electrical contractors with a company vehicle fleet of 125, from Shacklock House in Stanton Hill, Nottinghamshire.
An ABAX product now used by Shacklocks’ drivers is an electronic Triplog which automatically documents all driving via GPS, calculates mileage and distance, keeping businesses in line with HMRC regulations.
Natalie Matthews, who manages Shacklocks’ vehicle fleet, said: “We are able to check the live fleet management map when emergency call outs come in and send the nearest plumber. The ABAX Triplog technology is saving us money on fuel and time and we have been so impress we keep adding more to our fleet.
“It has increased the efficiency of both our van and car fleets and led to a better company driving practice with employees gaining a better understanding of personal mileage and out of hours operation, helping to prevent any unauthorised usage.
The Triplog is the core piece of telematics technology for ABAX and the number of appliances sold in the UK has also doubled year on year since it first began to operate here in 2012.
Chris Miller, ABAX UK Managing Director, said: “It is crucial business owners and employees understand the laws and ensure accurate records are kept otherwise the penalties can be high.
“We are finding that the largest vehicle sector exposed to this risk is commercial vehicles, typically sign written vans that are taken home by the driver. Drivers and business owners are unaware that private use should result in a benefit-in-kind charge.
“This is where technology helps and detailed information from the Triplog is used for creating electronic mileage logs, which businesses can verify internally and demonstrate to HMRC that vehicle useage is compliant with current regulations."
Chris Miller added: “We know the HMRC is tightening its grip and we are hearing new stories each week from customers and businesses across the country, particularly in our work around London and the East Midlands. Our aim is make sure businesses are prepared and compliant and we are doing this all of the time."
Neil Shacklocks are specialist plumbing, heating and electrical contractors with more than 40 years’ experience of delivering excellent service to the private, commercial and social housing sector.
One of largest service providers in the East Midlands, the company has a turnover of £15 million and employs more than 170 plumbing, heating and electrical engineers and support staff and trades.
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• ABAX has a UK office at the Allia Future Business Centre, Peterborough• ABAX hit the headlines in November 2014 when Peterborough United announced the company as its major new partner. This five-year deal includes the naming of the club’s ground to ABAX Stadium.• www.abax.co.uk - follow ABAX UK on Twitter @ABAXUK and www.facebook.com/ABAXUKYouGov• The YouGov survey polled 338 senior managers and above in small and medium-sized enterprises (excluding sole traders) with employees who reclaim mileage / repay private mileage• The YouGov survey polled 1,234 working adults in Great BritainAbout Neil Shacklocks Ltd• Neil Shacklocks Plumbing and Heating Contractors are specialist Plumbing, Heating and Electrical Contractors with over 40 years’ experience of delivering excellent service to the Private, Commercial and Social Housing Sector.• We are one of the largest service providers in the East Midlands with a turnover of £15 million and employ over 170 plumbing, heating and electrical engineers and support staff and trades.• We are a local company based in Nottinghamshire with a strong track record of employing local people and supporting communities.• For further information visit www.shacklocks.com