Capture Expense fully manages your cumulative mileage bands, automatically calculating your rate per kilometre changes depending on fuel, engine size, and distance travelled in the given tax year—so you’ll always reimburse the right amount in line with Revenue’s civil service rates.
You’ll also automatically calculate distance based on the lower of either the employee’s home or their normal place of work, so you’re fully covered with Revenue’s guidelines.
Capture Expense’s system for calculating mileage stands out for its precision, compliance with tax regulations, and user-centric design. Our holistic approach encompasses several crucial components:
1. Mileage Reimbursement and Tax Implications: We tackle mileage reimbursement by compensating for the business use of personal vehicles, covering both wear and tear and fuel costs. Our system aligns with approved rates by tax authorities, ensuring reimbursements are not taxed up to prescribed limits and users claim accurately to avoid taxable benefits.
2. Detailed Mileage Calculations: The platform allows for the storage of details for both private and company vehicles, both custom and approved rates, tracking personal mileage for the latter to avoid benefits-in-kind. With considerations for vehicle type, engine size, fuel type, and cumulative mileage, our system applies accurate reimbursement rates in line with vehicle banding and user mileage, adhering to tax regulations.
3. VAT Reclaim: To facilitate VAT reclaim on fuel, Capture Expense aids in the correct storage of VAT receipts, streamlining the reclaim process.
4. Cumulative Mileage Management: Cumulative mileage is meticulously tracked, adjusting reimbursement rates as users reach different mileage bandings, ensuring ongoing compliance with approved rates.
5. Commute Distance Management: The system calculates and deducts commute distances from mileage claims by gathering home and office addresses. This feature ensures that mileage claims reflect purely business-related travel.
6. Integration with Google Maps: To enhance accuracy and user convenience, Capture Expense integrates with Google Maps for journey distance calculation. Users can input ‘from’ and ‘to’ addresses, along with any waypoints, to get precise distance measurements for their trips. This functionality includes the ability to search for addresses and enter trip details directly within the platform.
7. Flexibility and Fraud Prevention: Recognizing the need for flexibility, our system compares the calculated distance with the distance entered by the user, alerting approvers to significant discrepancies. This serves as a check against fraudulent claims, ensuring that approvers can verify and validate the accuracy of each claim.
By combining these features into a cohesive platform, Capture Expense simplifies the management of mileage expenses, enhancing both accuracy and compliance. Our integration with Google Maps, coupled with the system’s ability to alert approvers to discrepancies, adds an additional layer of integrity to the expense management process. Users can submit their mileage claims with confidence, supported by a system that accurately accounts for every aspect of the journey, from calculation to tax compliance and fraud prevention.
This comprehensive and integrated approach underscores our commitment to delivering a solution that not only meets the immediate needs of our users but also anticipates the broader requirements of businesses striving for efficiency and compliance in their expense management processes.
