Advisory Fuel Rates from 1 March 2017

HMRC has updated Advisory Fuel Rates (AFRs) which apply from 1 March 2017. AFRs apply when employees are reimbursed for business travel in their company cars, or where they are required to repay the cost of fuel used for private travel. The following table shows the new rates as well as the previous rates in brackets. The only changes are to petrol rates which have risen by a penny per mile for vehicles over 2000cc and LPG vehicles over 2000cc which is also up by a penny. All other rates remain the same.   Engine size Petrol – amount per mile LPG – amount per mile 1400cc or less 11 pence 7 pence 1401cc to 2000cc 14 pence 9 pence Over 2000cc 22 pence 14 pence Engine size Diesel – amount per mile 1600cc or less 9 pence 1601cc to 2000cc 11 pence Over…

BVRLA reveal truth about grey fleets

The full extent of the UK’s “grey fleet” is revealed today in the most comprehensive report into private vehicles used for business. The nation’s grey fleet comprises 14 million cars – 40 per cent of all vehicles on the road – and costs employers more than £5.5bn a year in mileage claims and car allowances. According to Getting To Grips With Grey Fleet, a new report produced by the Energy Saving Trust (EST) and commissioned by the British Vehicle Leasing and Rental Association (BVRLA), some 12 billion business miles are driven each year on Britain’s roads by employee-owned cars. The grey fleet describes the use of an employee’s own vehicle for business purposes. In return for using their own car, employees are reimbursed on a pence per mile basis. Using government figures and data from real- life fleets, EST researchers were able to produce…

Company car remains important employee benefit

Six out of ten (62%) company car drivers state the offer of a similar choice and value of vehicle is an important consideration in any future decisions they make regarding job moves, according to new research from Lex Autolease. Lex Autolease’s Report on Company Motoring, compiled from independent surveys of more than 1,400 businesses, company car drivers and employees who use their own vehicle for work purposes. It found more than two-thirds of businesses (67%) believe the company car is an important employee benefit and one in five (20%) plan to upgrade their car policies in the next two years to help secure, retain and motivate the best employees. When asked to rank the most important factors in choosing a company car, drivers put reliability at the top, followed by fuel efficiency and safety. In contrast the brand of car was ranked as the…

Petrol and diesel advisory fuel rates unchanged

The latest Advisory Fuel Rates (AFRs) from HM Revenue and Customs (HMRC), have come into effect (from June 1), with petrol and diesel rates unchanged. The rate for LPG vehicles with an engine size greater than 2,000cc has decreased from 17p to 16p, cancelling out the 1p increase implemented from March 1, 2014. For one month from the date of change, employers may use either the previous or new current rates to reimburse drivers for fuel used on business journeys. New rates in bold, previous rates in brackets. Petrol 1400cc or less 14p (14p) 1401cc to 2000cc 16p (16p) Over 2000cc 24p (24p) Diesel 1600cc or less 12p (12p) 1601cc to 2000cc 14p (14p) Over 2000cc 17p (17p) LPG 1400cc or less 9p (9p) 1401cc to 2000cc 11p (11p) Over 2000cc 16p (17p)

Car insurance premiums rise for many UK businesses

Two-fifths of UK businesses have suffered from rising company car insurance premiums over the past 12 months, new research by TomTom Business Solutions has revealed. Companies could be doing more to address the risk factors affecting premium costs, however, as the survey 71% of companies do not provide regular training for drivers. Only 36% monitor driver performance as a means of assessing and reducing risk, with less than a quarter of those (22%) using technology to do so. Giles Margerison, director UK & Ireland, TomTom Business Solutions, said: “Too often cars are viewed as an employee benefit rather than a place of work, so more can be done by businesses to improve safety, reduce collision rates and drive down the cost of insurance premiums. “Initiatives such as regular staff communications, safety discussions, driver training and schemes for measuring and improving driver performance are powerful…

Get SMART about repairs to reduce fleet costs

Fleet managers could be saving tens of thousands of pounds in end-of-life de-fleeting costs by opting for ongoing SMART repair work throughout the life of the lease. So says bodyshop distribution network ACIS after carrying out bodyshop data analysis. So-called SMART – Small to Medium Area Repair– technology is now being increasingly used mid-lease when cars go in for servicing. According to ACIS, a typical BMW rear bumper with slight damage would cost around £300 to repair at the end of contract based upon the menu price, but a SMART repair mid-lease would be two-thirds lower. Across a fleet of 500 vehicles, this type of repair would save £120,000. Research by ACIS suggested that dealerships, on average, service 20 cars a day and sell a further 20 used cars a month. Of the cars serviced: 40% will have alloy wheel damage 30% will have…

New Tool for Smart Fleet Managers…

Telematics specialist Masternaut has launched an app that makes tachograph data available for mobile devices, providing fleet managers with a tool to access vehicle and driver information on the move. For all vehicles that are equipped with Masternaut’s TACHOfresh “live” or “remote” functionality, the data generated by the digital tachograph is transmitted to the central web portal. Fleet managers can access details on the whereabouts and behaviour of their drivers at any time and from any given place. The TACHOfresh MOBILE app will now make this data available on smartphones and tablets. Insights include daily and overall mileage, rest duration and vehicle idling, in addition to the exact, real-time location of each vehicle within the fleet. Martin Hiscox, chairman and CEO of Masternaut, commented: ‘With the TACHOfresh MOBILE app, we’re responding to demand from customers to provide telematics data and insights into fleet performance while…

RAC launch new fleet telematics

The RAC has announced the launch of a new telematics service aimed at fleets of all sizes. Available from just a few pence per day per vehicle, the in-car unit can be installed in minutes according to the company and provides benefits including the ability to track the location, mileage and driver behaviour of each vehicle, along with HMRC-compliant mileage records. As well as offering key duty of care benefits, the technology can deliver time and money savings that could save businesses with fleets as small as 15 vehicles in excess of £23,400 per year, according to the RAC. Fleets can also save up to 15% on their annual fuel bills thanks to a “driver score” function that allows fleet managers to monitor how efficiently their vehicles are being driven. And the device can also help to lower insurance premiums as it gives insurers the…

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