Website offers cash for car alternative
A new online cash for car allowance service has been set up to reduce costs associated with the scheme.
Link: Fleet special
The new service, tmcfleet, formed by Fleet Alliance and taxation solutions specialist The Miles Consultancy, allows company employees to source vehicles of their choice at advantageous rates online, via their own electronic personal contact purchase account.
Companies can currently offer a cash alternative and repay employees for the business miles they cover in their own cars by using Inland Revenue approved mileage allowance payments, to create tax credits to reduce costs.