PEAK Mileage Capture for Sole Traders and Micro Business
If you’re a sole trader or Micro Business you understand the importance and value of time. The more time you have the more you can get done. Although we can’t offer you a time machine and we have no way of instantly cloning you, however we can give you some time back.
Mileage expenses could be described as a necessary evil. They represent time and money invested into travelling to and from customers and important meetings. The problem is that creating an accurate and compliant claim takes time. This creates a problem and we tend to find that busy business owners do one of the following.
Proper Job – You intricately record all your mileage and create an accurate and compliant claim. Well done, you are a rare breed and this is good. You will love PEAK, it will give you all the same info (and more) but will take just 5 minutes a month.
Rush Job – You rush it and just do the minimum you can get away with. This is bad as you compromise on quality and accuracy missing key information that could come back to bit you if HMRC inspect your records.
Fiction Job – you make it up, you drove 20,000 miles last year about 80% was business and that’s what you claim. Be very wary of this approach. If HMRC ask you to prove it then what next… you will need to spend days going through old diaries and if it does not match up then its fraud! This one catches out lots of drivers, resulting in some pretty sizable penalties.
No Job – You don’t have the time so you just don’t bother. Well at least HMRC aren’t going to give you any trouble for inaccuracy but it’s a foolish approach. When you consider that 10,000 miles is worth £4500 tax-free money in your pocket, you need to consider if it makes financial sense to just not bother.
Case Study Mike LePac
Mike Lapac is a business man running Universal Banner and Display in Worcester and a customer of PEAK for more than a year.
The Old Way
Prior to using the PEAK system Mike regularly visited customers and conducted a variety of business trips worth on average £6,000 a year in tax-free mileage expenses. The problem Mike had was time… With his thriving business and busy schedule Mike was lucky if he claimed 10% of that amount prior to using PEAK.
The New World
Since using PEAK Mike now simply places his trip stick in his car at the beginning of the month and leaves it there to record all his business mileage. At the end of the month he uploads his trips to PEAK and reviews the journeys adding in trip reasons and customers visited. The whole process now takes just 5 to 10 minutes a month.
Mike has encountered a number of key benefits that have a positive impact on his life.
Mike now claims all his mileage meaning he could afford a lease on a new car
He sleeps easy at night knowing his claims are accurate and complete.
Mike has a more profitable business.
The solution for sole traders and micro businesses is the PEAK system, which has one clear aim… To make Mileage expenses simple,
accurate, quick and compliant with HMRC requirements.
PEAK has been designed to meet with your demands for a simple system that means you can create a monthly claim in just a few minutes rather than a few hours.
How It Works
5 step process.
- Choose APP / Or Dongle
- Record Mileage
- Upload and Complete Claim
- Report on mileage for your Accountant or HMRC
We recommend a quick demo of the PEAK system which you can book here. This way one of our team can take you through the system and answer your questions. Alternatively, you can watch this video of our founder giving a quick overview of the system.
Why wait, sign up now.
If you are already convinced you can sign up here and pay using PayPal, direct debit or your credit card.
Get in touch by calling us on 0845 600 6880 or firstname.lastname@example.org
Helps you remember...
We received a call from a customer that couldn't find keys to a property we had attended a few weeks previous. A quick login to the webportal confirmed the date and time we parked next to their head office to return the keys. We used this information to cross reference with the client's CCTV to prove who we handed the keys to.
Simply put, this system has helped us remember what we have done by providing a time/date context. Moreover, we use it in lieu of a time sheet which saves both time and effort on a Friday afternoon!
Further more, when the accountant challenged us to provide mileage records, we just exported the year to an excel spreadsheet... So simple and efficient we forget it's there until it helps us!
James - Security Systems Installer Northampton