TMC Automotive tackles motor trade fuel and mileage costs
06 August 2018
Author: Sean Keywood
Fuel management company TMC has launched a new product aimed at car dealers, original equipment manufacturers (OEMs) and leasing and rental companies.
TMC Automotive has been designed to address motor trade businesses' needs around fuel, mileage, and compliance with benefit-in-kind (BIK) tax, such as in dealer average schemes.
It allows employees to log details of journeys and vehicles via a mobile app or online system.
TMC audits every business journey, calculates private mileage and provides payroll files for reimbursements or private fuel deductions.
The firm says the new product will save time and money by increasing visibility and control over mileage, and cutting administration costs by eliminating log books, spreadsheets and the need to chase staff for information on who drove what vehicle when and why.
Managing director Paul Hollick 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, including TMC's own Fuel+, as well as pay-and-reclaim expenses.
If employees still hold fully expensed fuel cards - and therefore pay fuel BIK tax - TMC says 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.
"And 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."