Real Benefits in Using Fuel Cards

For an established UK business, a fuel card offers many benefits. Such benefits have been discussed multiple times over the web. Quite likely, fuel card experts may have already educated you in terms of applying fuel cards to your business’s fuel bills. We will list out the major benefits that could accrue to your business if it chooses to get a business fuel card:

fuel card

  1. a) Cost Saving is the most critical reason that makes a business decide to acquire a fleet fuel card. Cost savings are a direct reflection of the size of the fleet. For a smaller fleet, fuel cost savings would be minimal to none. For bigger business and companies, these cost savings would be rewarding enough. Infact these savings are substantial and may not be overlooked by a business owner or a fleet manager. A fleet that uses upwards of 10,000 litres of fuel a month will score additional and sizable savings if the fuel pricing is reduced by 3 pence a litre.
  2. b) VAT Reclamation – A UK business is eligible to reclaim the VAT paid on fuel expenses. A VAT compliant fuel card invoice will simplify the process of VAT reclamation for the business. Most fuel card suppliers in UK offer VAT as a separate component of the fuel card invoice. These invoices are sufficient to reclaim the VAT paid on fuel purchases.
  3. c) Effective Management of Fuel Purchases – All fuel bought on fuel cards is documented as part of the fuel card transaction report. Each transaction offers insights into how much fuel was bought, at what the fuel was bought and what price was paid for the fuel purchase. A comprehensive detailing of fuel transactions ensures complete management control over fleet’s fuel bills. Scope of pilferage is vastly reduced.
  4. d) Strong anti-theft protection – Upon loss of a fuel card, a business should intimate the loss to the fuel card supplier. Once the supplier has been informed of the theft or loss of fuel card, the fuel card supplier ensures that fraudulent fuel purchases cannot be made on the lost fuel card. Any likely financial damage arising out of the loss of fuel card is greatly reduced.

These being the salient benefits of a fuel card, we can assure that there are umpteen number of cases and reasons wherein a business has gained with the use of fuel card. For ordering your business’s fuel cards, look forward to a new fuel card supplier in town. The fuel card supplier helps you get maximum savings and liberal payback terms. Call us today.