news 13
On the right road, or heading towards big bills?
Hopefully you are not one of the 40% of businesses that HMRC thinks haven’t got good enough records, or one of the 60,000 SME businesses that will be subject to a HMRC Business Records Check (BRC) by 2015, in an attempt to raise a further £120 million in tax.
Included in the BRC review are checks on driver’s expense claims. Independent research shows that approximately 25% of drivers over-estimate their mileage claims. This is costly to businesses and increases the risk of HMRC reviews, leading to hefty tax and NIC bills, including interest and penalties.
A brand new and innovative GPS mileage capture dongle is saving employers money
and preventing HMRC fines and investigations
The PEAK mileage capture dongle is extremely simple and accurate using GPS satellites to accurately track an employee’s business trips
The “dongle” is simply placed in the cigarette lighter/USB port of the car where it records each trip.
At the end of the month the driver plugs the dongle in to the USB port of a computer where the trips are uploaded to the PEAK web portal.
The driver then simply goes through the trips and ticks if the trip is business or private. To avoid the 'big brother' argument only business trips are itemised on the claim.
Online mileage capture and
‘black box’ tracking systems are commonplace, but GPS mileage capture devices are now proving to be a massive hit because they are:
• Simple; quick; accurate; and cost effective
• It can be installed in seconds by the driver
• Protects a company from HMRC investigation
• Ensures the entire process is honest for all involved
Alex Baker, director of Fleet Innovations, said: “Our clients really like the simplicity and accuracy of our GPS PEAK mileage capture solution. Costing less than the price of a daily newspaper it deals with the issues raised by HMRC and saves time and money. Our PEAK Corporate solution
also generates savings on cash allowances and private fuel provision as well as offering payroll integration opportunities.”
Being proactive can save time, money and headaches for you in future.
Final word: PEAK mileage capture can reduce business mileage by about 25%. This will result in 25% less fuel, 25% less CO2 and reduced insurance premiums.
Details: Andy Liddiard 07787-241393
www.fleetinnovations.com
bdo thames valley – business barometer Investment intentions are proving strong
Almost half of the businesses surveyed plan to increase investment In marketing over the next three months. A third of respondents also plan to invest in training & development and in technology. Only 8% plan to invest in property and 3% In fleet and transport.
Investment agenda
Respondents were also asked what key investments were needed in the region if business in the Thames Valley is to continue to thrive. Education and skills coupled with the availability of finance were deemed most essential (45% and 43% respectively named these). Transport and infrastructure and support for innovation and R&D follow in importance.
The full results of the survey ...
...can be accessed via the BDO LLP website (
www.bdo.uk.com/press/bdo-thames-valley-business- barometer-launch). The second Barometer will re-open on July 2, 2012 and will also be accessed via this link for one month. All companies in the region are invited to get involved.
Survey methodology
The survey was conducted from April 2, 2012 to May 2, 2012. In total 123 respondents completed the survey. This was supplemented by five in-depth face-to-face interviews with key businesses in the region. For more information and to register your interest in getting involved see details on right.
THE BUSINESS MAGAZINE – THAMES VALLEY – JULY/AUGUST 2012
www.businessmag.co.uk
Details: Kit Booth 0118-9527362
kit.booth@
bdo.co.uk
measuring results Availability of finance
On balance, no change is reported on the availability of finance, though it remains very high on the agenda for the prosperity of the region. Views were somewhat mixed as to how much of a constraint this was on growth.
business barometer
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