Skip to main content
Could you be getting more from your fuel tax claim?

Could you be getting more from your fuel tax claim?

Even though the fuel tax claims process can seem complex, it’s worthwhile to get it right to make sure you’re not missing on valuable savings and refunds.
FTC App: Could you be getting more from your fuel tax claim?

Operating a fleet can be expensive and, fuel tends to be one of the largest costs for organizations to manage and control. Thankfully, FTC software makes it hassle-free to obtain a fuel tax credit for truck drivers and fleet managers.

Did you know that the data captured from your telematics device can be used for more accurate Fuel Tax Credit (FTC) calculations and help to increase your claims by up to 30%? 

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 big chunk of a fleet’s budget, as fluctuating rates make it difficult not only to keep costs down or but also to calculate your fuel tax credits. Fuel tax credits for truck drivers is 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 app to log the miles 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 FTC software, you 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 maximize your fuel tax credit.

Evidence for More Accurate Claims

Lack of evidence is the main reason why many businesses underestimate and under-claim their FTC. With telematics evidence, your claims are accurate and defendable if need be.

Minimizes 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. Our telematics solution lets 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 behavior, 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 pour over separate data sets, driver logbooks, spreadsheets, or receipts.

Five More Ways to Maximize Fuel Tax Credits

Maximizing 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 maximize 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 labor 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 maximize 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 FTC software to say 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 FTC software app, you can more easily track 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 maximize your fuel tax credits is by ensuring that your fleet drivers and vehicles are in compliance with IFTA and fuel-tax reporting. 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.

Reducing fuel costs and claiming more accurate fuel tax credits for truck drivers 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 traveled 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.

MiX by Powerfleet partnered with Nuonic, a leading-edge data analytics firm, to help make it possible for our customers to:

  • Automate FTC calculations using Nuonic’s PRISM platform to ease this 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 additional uplift in credits can be applied; and
  • Save countless hours usually spent administering fuel tax claims.

Here's how the FTC software app works:

How MiX and Nuonic can help you get more from your fuel tax claim

You can sign up for a free consultation here


Tags: Efficiency

Could you be getting more from your fuel tax claim?
Could you be getting more from your fuel tax claim?
A fully-implemented and supported MiX by Powerfleet solution is guaranteed to improve driver safety and reduce accident rates while also lowering risk, liability and cost.

All content © MiX by Powerfleet | Terms & ConditionsPrivacy Notice | Email Disclaimer

Return to top