The Miles Consultancy (TMC) has launched a new TMC Automotive smartphone app which aims to help dealers reduce overheads and HMRC compliance around fuel and mileage costs by tracking business journeys.
The new solution, aimed at dealerships, OEMS and leasing and rental companies, has been designed specifically for motor trade businesses' unique needs around fuel, mileage and compliance with benefit-in-kind tax – for example, in dealer average schemes.
It allows employees to quickly and easily log details of journeys and vehicles to allow the Cheshire-based fuel management specialist to audit every business journey, calculate private mileage and provide payroll files for reimbursements or private fuel deductions.
TMC's managing director, Paul Hollick, said TMC Automotive will save dealers time and money by increasing visibility and control over mileage, and cutting administration by eliminating log books, spreadsheets and the need to chase staff for information on who drove a vehicle when and for what purpose.
He said: "We already work with several dealership groups and motor manufacturers. Last year, our clients benefited from an average saving of 15.4% on their fuel bills. That is equivalent to saving 18 pence on every litre of fuel at the pumps.”
TMC Automotive works with all fuel cards as well as pay-and-reclaim expenses and offers its own fuel card, Fuel+, which is accepted at nearly all UK petrol stations as well as across Europe.
The business claims that if employees still hold fully-expensed fuel cards (and therefore pay often-punitive fuel benefit-in-kind tax), it can manage withdrawal of the benefit in a way that leaves employees no worse off while typically saving the employer £1,000 per driver per year.
Hollick said: "TMC Automotive builds on the proven results we achieve for our clients in the car and commercial fleet sectors.
“It is designed to give motor trade businesses more visibility, more control and reduced admin and mileage-related overhead.
"Employees benefit from it too. Last year it was reported that three quarters of employees in dealer average schemes paid too much BIK, whereas TMC's tax year-end and employee reports make it easy for dealership staff to handle their tax returns."