expenses

Are you claiming enough?

One of the hardest things about being self-employed is trying to understand the ‘business’ bit of what you do and it can be really difficult to balance your love and passion for promoting and selling your products or services with your obligations to report your business activity to HMRC.

At My Business Advantage, we feel your frustration. So the team at 1tap have put together a basic A-Z guide to the expenses you can and should be claiming (and there’s a free download of their AMAZING app for claiming them all!).

expenses

Three key things to remember when claiming expenses:

THING ONE – Don’t claim personal things

The law states that expenses claimed are to be “wholly and exclusively incurred in the performance of the business”. Which means anything purchased for personal use should not be claimed. Keep this in mind when you are unsure of an expense and you won’t go far wrong. HMRC aren’t out to get you for genuine mistakes, but you should use a bit of common sense when making your claims.

THING TWO – Keep a copy of all your receipts

You must keep copies of your receipts for six years to comply with HMRC requirements. HRMC are quite happy with electronically stored copies so you don’t have to keep the originals. If you photograph your receipts and store them with 1Tap, we’ve got you covered.

THING THREE – Give evidence where no receipt can

While you won’t get away with providing no receipts whatsoever, you don’t necessarily need a receipt for every single claim. If you lose a receipt or forget to get one, you can still make a claim – as long as you can provide robust evidence to back it up (date, amount and reason) and of course, the claim is deemed a reasonably acceptable one.

While 1tap guide aims to cover the main types of expenses you can claim, it is by no means a fully exhaustive list and you should get independent advice and carry out further investigation of your own. However, it should set you firmly on the path to paying less tax by ensuring you are claiming what you are entitled to.

DOWNLOAD OUR FREE EXPENSES GUIDE HERE

Business and Private Mileage

Service:

My Fleet Solutions introduce smart, automated systems for recording and reporting every mile of every journey in any fleet vehicle.

At A Glance

  • Choose your mileage capture solution
  • Record mileage from all drivers
  • Upload, complete and submit claim
  • Management approve / decline claim
  • HMRC or Customer Report

Business And Private Mileage

Every company mile matters. Estimates, mistakes, and unrecorded journeys won’t do. With My Fleet Solutions mileage devices, every business mile is counted automatically and accurately, maximising savings and minimising exposure to fraud. My Fleet Solutions then makes it easy to manage all reporting, shrink expense claims, reduce fuel spend, ensure duty of care, and meet your HMRC reporting guidelines.

To find out more register here for a call back

Vehicle Insurance

Service:

My Fleet Solutions can tailor commercial vehicle insurance to cover every make and every eventuality, all in one policy.

At A Glance

  • Mixed Fleet Insurance
  • HGV Dedicated Insurance
  • Employers Liability Insurance
  • Product & Public Liability Insurance
  • Goods In Transit Insurance

Vehicle Insurance

From an executive motor, to a nippy van or an impressive HGV truck, no matter how big or small the number of vehicles in your fleet, and no matter how tall or wide the models are, there is a commercial vehicle policy out there that will fit all your business needs. Not only that, My Fleet Solutions can source the right commercial vehicle policy to cover every eventuality, including goods in transit, protecting your assets and employee drivers’ liability.

To find out more register here for a call back

 

Fuel Cost Control – Fuel Cards

Service:

My Fleet Solutions can fuel your fleet by cutting the costs at the pumps for your fleet, whether a diesel or a petrol model.

At A Glance

  • BP Fuel Cards
  • Complefleet Fuel Cards
  • Diesel Direct Fuel Cards
  • Esso Fuel Cards
  • Shell Fuel Cards
  • Scania Fuel Cards
  • Texaco Fuel Cards
  • UK Fuel Cards

 

Fuel Cost Control with Fuel Cards

With My Fleet Solutions you can enjoy incredible cost and significant time savings with any of its fuel cards, being part of the largest independent agents of fuel cards in the UK, and working as agents on behalf of most of the major oil companies including BP, Esso, Shell and Texaco, means there is a card that right for your drivers to use for any filling station brand near to your premise.

To find out more register here for a call back

Tracking & Telematics

Tele-Gence - Telematics Tracking Systems for you and your business

My Fleet Solutions offers telematics systems that will save money, keep your customers happy, lift employee productivity and protect your assets.

To find out more request a call back here 

All the benefits at a glance:

Service

  • Full fuel card integration
  • A UK based support team
  • No automatic contract renewals
  • A fully scalable solution
  • Hosted in the cloud, accessible from anywhere
  • Customisable, designed to support your needs

Savings

  • No integration charges
  • Pricing tailored to your needs
  • Improve MPG by up to 20%
  • Lower costs and affordable
  • Gives you immediate results
  • Reduction of fuel costs

Security

  • Full access to your fuel data
  • Improved and accurate MPG reporting
  • Helping to reduce and eliminate fuel fraud
  • Improved driver behaviour
  • Improved fleet insights

Tracking & Telematics

My Fleet Solutions offer devices that can advise drivers towards the best and shortest routes, which is provided by the GPS tracking system. Satisfy your customers by informing on delivery status. The small device can be hidden, and can help keep track if the vehicle is stolen. As well as tracking and reporting, the GPS system logs relevant driver information, so you can keep in communication. A tracking and telematics device can also save you money when it comes to insuring your fleet. My Fleet Solution can source the best device for your business.

 

 

To find out more request a call back here 

Car emissions WLTP

What is WLTP?

WLTP is not some new, super strange meaning, urban acronym, which the kids use alot in YouTube videos. However, fleet managers should get to grips with WLTP, and using it in their vernacular, before it comes into action in 2020.

It’s the introduction of the Worldwise harmonised Light vehicles Test Procedure (WLTP) initiative on vehicle carbon dioxide (CO2) emissions which is launching in 2020, Businesses need to get to grips with what WLTP means for them and their fleet drivers. Many businesses rely on their vehicles as key assets that support their core business operations and with WLTP you need to understand the impact of the new emissions targets sooner rather than later.

WLTP is the replacement for the long-established New European Driving Cycle (NEDC) vehicle testing procedure. The changes will test cars and light vans in more ‘real-world’ style conditions. This means CO2 emissions are rising and MPG reducing on some models, compared to the current figures quoted under the NEDC test process.

Car emissions WLTP

Car emissions WLTP

In April 2020, the UK government will introduce a tax monitoring system based on WLTP CO2 values. This will see a transition period with manufacturers publishing figures obtained under WLTP testing, but converted back to a comparable NEDC value, known as an NEDC-correlated figure. As a result, these figures will be higher than under the previous NEDC test cycle, which means motorists will have to pay higher vehicle-related tax. Additionally, vehicle list prices could rise as manufacturers introduce technological improvements to counter any rise in CO2 emissions and reductions in MPG.

Manufacturers are already taking action to manage the negative impact of CO2 emissions, including the move towards WLTP. This may see the withdrawal of specific engines or options and re-engineering some vehicles to improve emissions, which in turn could slow down production and make it difficult for manufacturers to meet orders.

Danielle Tilley, Business Development Director of Venson Automotive Solutions comments, “What is absolutely certain is that if vehicle CO2 figures have not been influential in the compilation of company car policies to date, they are now fast becoming critical. Meanwhile, not only is CO2 data vital, but those ‘must have’ optional extras beloved of many company car drivers may be confined to the dustbin come April 2020. That’s because, for the first time, options will be included in the CO2 /MPG testing process.

“WLTP is here and organisations must understand its impact on company car policies and fleet choice. They also need to understand the timeline for the full implementation of WLTP and the related Real Driving Emissions (RDE) test, as well as getting to grips with how both WLTP and RDE impacts on all aspects of vehicle related taxation between 2018 and 2020. Businesses need to make sure they are prepared for further change once the government announces the shape of all vehicle-related taxation from April 2020.”

To keep on top of how your fleet drives on the road, why not book a service or MOT with My Fleet Solutions? We offer the very best for fleets when it comes to vehicle servicing, maintenance and repairs, on all makes and models. There is always a garage nearby or an expert mechanic ready to fix the vehicle at the side of the road. When you call, 24/7, 365 days of the year, there’s a member of the team ready to answer. My Fleet Solutions can take the sting out of automotive costs, 60% saved on SMR compared to franchise dealers. The costings are transparent, based upon thorough working knowledge and up-to-date automotive data, plus all genuine parts and repairs are protected under warranty. 

Find out more at www.myfleetsolutions.co.uk

Are your drivers set for summer driving?

Are your drivers set for the road this summer? As we all know, the road traffic is going to start building up with holiday drivers heading for their destinations, family, luggage or a caravan in tow. Many of them never use the motorway during their working life and many more of them do not having a clue about getting to their destinations. Yet despite these challenges, your drivers fearlessly negotiate the traffic jams, in searing heat, while ignoring the frustrations caused by fellow drivers on the road. Okay, maybe not all that is true, but you can lessen the anxiety for them by ensuring your fleet vehicles are up to the task of heavy-duty, stop starting in high temperatures.

My Fleet Solutions offers the very best for fleets when it comes to vehicle servicing, maintenance and repairs, on all makes and models. Need a MOT or a pre-purchase inspection? A mechanic can pick up. Got a driver stranded many miles away? There is always a garage nearby or an expert mechanic ready to fix the vehicle at the side of the road. When you call, 24/7, 365 days of the year, there’s a member of the team ready to answer. The costings are transparent, based upon thorough working knowledge and up-to-date automotive data, plus all parts and repairs are protected under a one-warranty too. 

My Fleet Solutions introduces ClickMechanic brings the following exclusive benefits to fleet managers: 

  • 50% cheaper than franchise dealers 
  • Instant fixed price quotes 
  • No need to go to the garage 
  • Fully vetted & qualified mechanics 
  • 1-year parts & repairs warranty 

Join My Fleet Solutions today and get a 10% discount on ClickMechanic services

Thinking on your fleet

Using our roads is not an automatic right for an individual, and must always come with responsibilities, including the requirement in UK law to ensure you have appropriate vehicle insurance, so says Neil Worth, officer of road safety and breakdown organisation GEM.

Driving without insurance carries a fine of £300 and six penalty points at the roadside. If the matter goes to court it is an obligatory endorsement of 6 to 8 points, a discretionary disqualification and an unlimited fine. Imagine the costs involved if you are a fleet manager and one of your drivers gets caught… it simply doesn’t bear thinking.

As a responsible fleet manager, the expense of managing your fleet’s insurance can be expensive and time consuming. Which is why some policies, although complying with the law, might not be the right fit for your business.

Are you guilty of simply buying another single vehicle policy as and when you buy or lease a new van or car? This may look like a cheaper option, but it can end up being quite expensive when you look at all the insurance premiums, not to mention the admin involved and making sure all the right drivers can drive the right vehicles.

If you plan on buying or leasing more vehicles, you are likely to find a situation where you are looking at a new single vehicle quote to cover a new vehicle but don’t have any ‘no claims bonus’ to apply, as you are using it on your other vehicle(s). Usually this makes for an expensive first year’s premium on that new vehicle.

If you have a mix of cars, vans and/or special type vehicles, motor fleet insurance is often rated differently. If your business dictates that you need to run a combination of cars, vans or maybe special type vehicles such as tippers, diggers, cherry pickers etc, then you may find it difficult and/or expensive to insure these vehicles individually. Motor fleet insurers tend to be more open to accepting a mixture of vehicles on their policies for reasonable rates.

At My Fleet Solutions we offer FCS Insurance Solutions, which is authorised and regulated by the Financial Conduct Authority (FCA licence number 759713). Through our parent company Fuel Card Services, we can negotiate bigger discounts and introduces quotes for all probabilities: Mixed Fleet Insurance, HGV Dedicated Insurance, Employer’s Liability Insurance, Product and Public Liability Insurance and Goods In Transit Insurance.

My Fleet Solutions parent company Fuel Card Services is part of The DCC Group, a FTSE 100 company, giving clients the confidence of dealing with an innovative market leader backed by the credibility of a large, well-established corporate.

For a quote tailored to your business needs or commercial vehicle requirements visit www.fcsinsurancesolutions.co.uk

How does your A/C blow?

While we are all enjoying a lovely hot summer this year, there is one saviour that is standard in most cars, which we all take for granted: air conditioning. However, use it wisely, as it is not just a matter of pressing a button, and it’s on. There are correct ways of using this system so that it’s not just for ambient temperature, but also so it doesn’t impact negatively on you and your motor.

As a driver, were you aware of the risks of higher temperatures and dehydration, which can cause tiredness, dizziness, headaches and reduced reaction times?

Doctors have tested and recorded that a difference of just 10°C – 35°C compared to 25°C – inside the cabin can diminish reaction times by 20% – the equivalent to a blood alcohol reading of 0.05%.

Safety research has found that turning the system on full-blast – could be reducing its effectiveness, resulting in higher interior temperatures and possible dehydration. So, here’s how to avoid those air conditioning mistakes, when you first get into a boiling hot car.

  1. Turning on the air conditioning full blast as soon as you get in the car

When entering a hot car, it’s tempting to turn the air-con on to maximum. However, turning on the air conditioning straight away without opening the windows will just recirculate the hot air. Instead, open the doors, lower the windows for a minute or two before shutting the doors and cranking up the A/C.

  1. Keeping the air recirculation option activated

Keeping it on can make the windows fog and reduce visibility. Most cars will have an ‘Auto’ option, which can regulate itself to prevent fog while keeping drivers and passengers cool.

  1. Not turning on the air conditioning in the morning

Some summer mornings can be cool, but it’s still a good idea to keep the A/C on to prevent windows from fogging up when the outside temperature rises. Did you know that air conditioning also comes in handy on cold, dark winter days? Switch on your air con the next time the cabin mists, and the air conditioning will produce dry warm air, ensuring maximum visibility and demisting of windows when drivers need it most.

  1. Pointing the air jets toward you

It’s tempting, but it’s counter-productive and stops the car getting an even distribution of airflow. Pointing the jets upward lets the cool air spread around the car more effectively and allows it to reach all occupants.

5. Not performing regular maintenance

Did you know that air conditioning systems in a car were first fitted, as a luxury 80 years ago? Back then, air conditioning would cost approximately £3,418 in today’s money, and all this gave you was a refrigeration compressor which ran off the vehicle’s engine, it had no thermostat and simply discharged the cooled air from the back of the car.

It’s a welcome relief during these hot summer days, that air conditioning does come as standard with most manufacturers, and they are a little more efficient than back in 1938.

Besides hot summer days, and cold winter nights, reguarly turning on your air conditioning ensures the system remains charged and does not dry out. It’s also worthwhile knowing that even with regular use, air con gas peremeates from the system.

So just like the oil, tyres or brake fluid, the air conditioning system requires maintenance. Failing to keep the air con gas topped up and changing clogged cabin air filters every 10,000 to 15,000 miles can stop your A/C working effectively.

So don’t take air conditioning for granted, use it wisely and ensure that it’s maintained properly with regular servicing and recharging so that the system works as effectively as possible.

My Fleet Solutions offers the very best for fleets when it comes to vehicle servicing, maintenance and repairs, on all makes and models. My Fleet Solutions can take the sting out of automotive costs, with 60% saved on SMR compared to franchise dealers. The costings are transparent, based upon thorough working knowledge and up-to-date automotive data, plus all genuine parts and repairs are protected under warranty. 

Visit www.myfleetsolutions.co.uk and book an air conditioning service.

 

 

When lightning strikes, is your business covered?

As night follows day, with all this hot weather, a storm is a brewing, as the Met office starts plotting and predicting where it’s going to strike. You don’t need to panic, because your business is covered. But do you know what to do if lightning does strike?

It seems like the right thing to do as a business owner, after an accident occurs, call a contractor to fix your business premise roof damaged by a storm and get your buildings insurance to match the quote. Wrong. After weathering the storm, it is the insurer that determines whether you have a valid claim.

At Fuel Card Services, we have found an insurance claims management partner Aspray Ltd, that you can turn to for expert guidance and support on property damage insurance claims. We are offering this opportunity through our online benefits portal, My Business Advantage.

Aspray can manage your claim from inception to completion by dealing with your insurer, or appointed loss adjuster, directly to negotiate a fair and satisfactory settlement. Once works are agreed, Aspray will project manage vetted contractors to complete the reinstatement works, all the while, putting the policyholder first. Giving you further peace of mind: Aspray is a member of the British Damage Management Association (BDMA).

What you need to know regarding your Industrial Storm Damage Claim:

Determining whether damage to your business premise has been caused by gale force winds can sometimes be a tricky one. It is sometimes, not just the roof that has been hit by the weather. Scoping the damage and taking photographic evidence is essential. Adverse weather may affect structural damage and this might not be apparent until weeks after the storms when rain water begins to enter the building causing internal damage – being certain of the exact cause can be difficult. You will need to check weather records in the area and around the time of the incident to help determine whether you have a valid claim.

How Aspray will handle your Commercial Property Storm Damage Claim:

• Arrange a site visit usually within 24 hours of your call.

• Prepare and present a schedule of works for your insurer.

• Liaise directly with your insurance company and loss adjuster if necessary.
• Oversee a team of vetted tradespeople.
• Ensure your property is restored to its pre-loss condition as swiftly as possible.
• Negotiate any business interruption settlement for home workers and business owners.
• Help arrange alternative accommodation, where required.
• Project manage the claim and stay in close contact with you throughout. The work is only complete when you are satisfied with the repair.

Money off your excess:

Best of all, there is no charge to you for the service if Aspray appoint and project manage the contractors as they are paid directly by your insurers. Please note any policy excess stated within your policy will of course still apply.

However, if you do instruct Aspray to take care of your insurance claim and all reinstatement works, they are offering a £100 voucher towards your excess upon completion. Terms and conditions apply.

Simply visit ‘Insurance Claim Management’ and we’ll take care of the rest.