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How Can My Fuel Card Help Me Stay HMRC Compliant?

One method to minimise the amount of paperwork and administration that you have to process is a fuel card! We have specifically designed our invoices to be HMRC approved which therefore gives you maximum convenience and control of your fleet’s fuel consumption.

Using our Greenarc Fuel Cards can help you to save valuable time and resource. You won’t have to rely on your drivers to first ask for receipts, then keep them safe, then collect them and then process all of these easily lost little pieces of paper! At Greenarc Fuel Cards, we can provide you with one single HMRC approved invoice to make your VAT reclaim easy.

To claim your VAT back you must submit your receipts, however there is an easier way.

Let us explain…

Tax implications

If you use a fuel card for business purposes, it doesn’t qualify as a taxable benefit. You must pay tax on fuel regardless of whether you pay via a fuel card. But the benefit to fuel cards is in simplifying the practicalities of calculating and paying tax each month or year.

VAT benefits
Your VAT can only be reclaimed on fuel used for business journeys. Any other fuel usage i.e., personal use, VAT must be paid in full.

HMRC approved invoices
To make your life easier, our invoices are approved by HMRC and provide a simple breakdown of VAT expenses. You can send the paperwork documentation straight to HMRC saving them digitally.

No interest charges
Using a credit card to pay for your fuel can include large interest charges. Using a fuel card, removes that extra charge.

Reduce storage space
Using a fuel card to help manage your fuel expenditure and receiving our HMRC approved invoices means that you and your business are HMRC-compliant. Let go of the days when you had to store hundreds of receipts in the attic!

To summarise…
Using a fuel card reduces your admin and paperwork though our invoicing for all your fuel or car related purchases. You’ll see your HMRC invoicing will take a fraction of the time, ensuring efficient fuel administration management for you and your business.