BIK Tax on Company Vans Need not be Taxing: Cybit Launches New Telematics enabled Tax & Expenses Manager Application

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"This module opens up vehicle-based Telematics to a new generation of users – the drivers themselves."

John Wisdom Sales & Marketing Director

Cybit, the leading Telematics Service Provider, has launched a new Tax & Expense Manager module for its Fleetstar-Online fleet tracking and vehicle telematics solution. The new Tax & Expense Manager module benefits both finance departments and individual drivers by enabling driver authentication and verification of business and private mileage via a secure website.

Companies can now, for the first time, easily identify potential taxation liability issues and provide proof of business vs private mileage for HMRC. An online driver authentication website allows individual journeys to be verified by the driver or manager ensuring that records are accurately kept and retained.

The employee can benefit from an expenses management tool through a paperless expense management system. From a corporate perspective, the service helps mitigate the risk of any negotiated exceptions being withdrawn by HMRC through the provision of accurate records and proof of journey type.

John Wisdom, Cybit’s Sales and Marketing Director commented: "The provision of tools such as Tax Manager is opening up telematics to a new generation of users: the drivers themselves. It provides them with less administration and is a simple method of record keeping. The service also provides opportunities to gain employee buy-in and begin an education process that examines the broader benefits of vehicle telematics.”

Expense Manager allows driver access to vehicle tracking journey data via a website for verification & expense management.
The Tax & Expense Module is available as an value added extension to Cybit’s fleet tracking product Fleetstar-online or is available as a stand-alone service that provides automatic mileage capture.

"This is yet another example of how telematics is moving beyond traditional vehicle tracking and location-based services where the data and its application in business is of equal value," continued Wisdom.

The solution utilises GPS vehicle positioning information in conjunction with an in-vehicle business and private mileage switch. This data is backed by a series of configurable business rules and algorithms that are tailored to provide automatic vehicle journey classification. This includes authorised business mileage, private journeys or travel to and from known business locations.

Fleetstar-Online is Cybit’s industry leading, scalable suite of Internet-based Mobile Resource Management (MRM) and vehicle tracking tools. The high quality data relating vehicle and job performance is captured in conjunction with location information reported and analysed through Fleetstar. This allows meaningful business decisions to be made using up to the minute information on operational performance.

Powerful reporting capabilities facilitate effective management of operational costs and productivity; support strategic initiatives around Carbon footprint; and increase compliance with legislation including Duty of Care and Health and Safety. The strategic importance of Fleetstar-generated information extends beyond vehicle tracking into the heart of the enterprise: Fleet derived information can be directly integrated into a range of business systems to improve the efficiency of the entire organisation. Fleetstar provides the business-critical information that organisations need to execute a clear and rapid path to return on investment.

About Cybit:
Cybit is a global force in Telematics, operating within three core sectors: Internet-based vehicle Telematics solutions; Economic Exclusive Zone (EEZ) Management; and Private Mobile Radio (PMR) based asset tracking and precise positioning solutions.

In the vehicle Telematics sector, Cybit is one of Europe’s leading Telematics Service Providers. More than 2,000 business-to-business clients use the company's fleet and asset management solutions to manage in excess of 50,000 assets primarily in the public sector, service industries and logistics and distribution markets. Solutions include in-vehicle technologies, workflow management, CanBus integration and internet-based monitoring and reporting software. The company also provides consulting services to advise on operational and legal issues such as duty of care and working hours.

Additional information is available at: www.cybit.co.uk

Contact information:
Duncan Burford
IBA - PR for Cybit
Tel: 01780 721 433
Email: dburford@iba-international.com

Graham Gordon
Marketing Manager, Cybit
Tel: 01480 389100
Email: ggordon@cybit.co.uk

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