BUSINESS FUEL CARDS

Yes. With Tide Expense Cards, you stay in control. You can set and amend spending limits by card at any time and you can also view all transactions made on the cards in the Tide app. The receipt upload facility also means you can see at a glance where transactions have been made.

Use of a fuel card for business purposes is not classed as a taxable benefit and you won't have to pay tax on a fuel card unless it is used to cover the cost of the fuel for personal travel.

You can order up to 50 Tide Expense Cards for your team at a cost of £5 + VAT per card.

Instead of using cash or your own personal debit card and then having to recover the costs by submitting an expense claim, a fuel card is used to pay for fuel when you fill up a company vehicle at a petrol station or retailer. When you pay, either with the cashier or at the pump, your transaction is automatically recorded and you can upload your receipt using the mobile app facility. This means that spending can be tracked and you do not have to pay out of your own pocket.

Fuel cards can save a small business both time and money. They can give you the flexibility to purchase fuel at outlets with the most competitive prices, as well as making expense management easier, as all transactions are itemised. You can also set spending limits and track expenditure by team member or driver.

You may think fuel card services can only benefit larger companies, but they can also be valuable to sole traders and partnerships too. As well as saving you time on your finance admin by making expense management easier, they can also help with budgeting by ensuring all your purchases are itemised so you can keep track of your spending.

Some of the benefits of using fuel cards can include:

- Savings on fuel purchases by being able to shop around to find the cheapest petrol and diesel prices - Setting individual spending limits - Allocating separate cards to individual drivers - Saving significant time on processing receipts

Company fuel cards work by removing the need for drivers to pay for fuel for company vehicles with personal cash or credit cards and then having to raise expense claims. Instead, fuel cards take the admin out of paying for company fuel expenses. They replace cash or debit cards and help small businesses save time with processing expense claims.