Could you be getting more from your fuel tax claim?

Modern telematics solutions make it hassle-free for commercial vehicle operators and fleet managers to obtain fuel tax credits. The data captured by your telematics device can be used for more accurate Fuel Tax Credit (FTC) calculations, which can increase your claims by up to 30%. (Note: Actual savings may vary based on current claiming practices and fleet operations.) 

The fuel tax claims process is complex, time-consuming and prone to inaccuracy, which means you could be missing out on valuable refunds. 

Are You Paying Too Much? 

Fuel prices are a significant portion of a fleet's budget, as fluctuating rates make it difficult not only to keep costs down but also to calculate your fuel tax credits. Fuel tax credits for commercial vehicle operators are one way to help reduce your fuel costs. Most businesses with a fleet of vehicles or heavy equipment will be entitled to a fuel tax credit on the fuel tax charged to public road users. But are you getting the most that you can out of your fuel tax credits? If not, you may be paying too much. 

How an Automated System Can Help You Save 

Drivers and fleet managers have to work together to accurately record the amount of fuel used on different roads. Drivers must be meticulous about recording their odometer readings. To avoid human error, you can use fleet management software to log the kilometres your drivers cover. An automated system can help you save more on fuel tax credits. 

Avoid Under-Claiming Your Fuel Tax Credits 

When you rely on estimates or inefficient manual logs, you run the risk of under-claiming your fuel tax credits. With automated fuel tax software, you can automatically measure your fuel usage and calculate fuel tax credits for fuel used on public roads, off-road travel, idling time, and auxiliary equipment so that you can maximise your fuel tax credit. 

Evidence for More Accurate Claims 

Many businesses underestimate and under-claim their FTC due to a lack of evidence. Telematics evidence makes your claims accurate and defendable if necessary. 

Minimises Risk of Tax Exposure 

When your claims are accurate and evidence-based, your risk of tax exposure is reduced significantly. You have solid evidence that your business is claiming what it is entitled to. 

Increased Insight into Fleet Vehicle Usage 

Get better insight into your FTC claims when you know exactly what your fleet vehicles are doing and where they are in the field. Advanced telematics solutions let you accurately track your fleet's fuel usage, know where your fleet vehicles are, and how they are being used. You can also monitor a range of driving behaviour, safety, and compliance aspects that give you a more accurate fuel tax credit return, as well as improve the efficiency and productivity of your fleet. 

Saves Administration Time and Paperwork 

When you use GPS tracking on your fleet vehicles and other fleet assets that use fuel, you can get all real-time data and automate your FTC claims. You won't have to pore over separate data sets, driver logbooks, spreadsheets, or receipts. 

Five Ways to Maximise Fuel Tax Credits with Telematics 

Maximising your fuel tax credits can be made faster and easier by using the data available through your telematics solution. Here are five ways data from your telematics solution can maximise your fuel tax credits. 

1. GPS Tracking Helps Plan More Efficient Routes 

Using GPS tracking helps you plan more efficient routes and saves you fuel and labour costs. It also lets you keep better records and log fuel costs, which can be used to claim your fuel tax credits. You may be able to save a significant amount by using your telematics data to maximise your fuel tax credits. 

2. Updates in Real-Time 

Telematics systems also let you and your drivers access data in real time. Real-time updates on traffic, road hazards, and weather conditions can save your fleet from incurring excess fuel costs. You can also use fuel tax software to stay in compliance with fuel tax credit rules around fuel usage when using off-public roads, including private roads, worksites, and agricultural properties. 

3. Geofencing to Track Off-Road Claims 

Set geofences to make tracking off-road claims easier, especially in areas where worksites overlap public roads. Since you can claim more for off-road credits, this could make a big difference. 

4. Claim for Auxiliary Equipment 

With your fuel tax software, you can more easily track the fuel consumption of auxiliary equipment such as generators and compressors and include it in your fuel tax credit calculations. 

5. Communication That Helps You Stay Compliant 

One of the most important ways you can maximise your fuel tax credits is by ensuring that your fleet drivers and vehicles are in compliance with fuel-tax reporting requirements. Therefore, logging your fleet operations with telematics data is essential. A telematics communications system lets you and your drivers communicate, no matter the network coverage or weather conditions. This not only helps your fleet save fuel but also helps it stay compliant with the requirements of a fuel tax credit. 

The Power of Integrated Solutions 

Reducing fuel costs and claiming more accurate fuel tax credits for commercial vehicle operators are just a few of the benefits of telematics and GPS tracking. This technology allows you to see patterns in your fleet and handle issues before they arise. You get information such as distance travelled and engine hours at job sites, so you can accurately predict how long new or future jobs will take and estimate how much they will cost. You can base decisions on accurate information. 

Advanced telematics solutions integrated with leading-edge data analytics platforms can help you: 

• Automate FTC calculations to ease the burden of calculating Fuel Tax Credits 
• Deliver precise and accurate calculations of vehicle fuel consumption according to location and activity 
• Generate detailed reports to support FTC claims for peace of mind 
• Use the most accurate and advanced mapping available 
• Look at retrospective claims and see if an additional uplift in credits can be applied 
• Save countless hours usually spent administering fuel tax claims