Trakm8 SWIFT reduces the Tax Burden for Construction Companies
30 July 2007
Trakm8 SWIFT Reduces The Tax Burden For Construction Companies
30th July 2007: Europe’s leading aftermarket telematics vendori, Trakm8 Ltd, today
announces that it has witnessed an increase in take-up of its Trakm8 SWIFT (Simple
Web Interface For Tracking) vehicle tracking technology within the construction
industry. This upward trend is due to more companies recognising the need to
streamline costs and for compliance with the new taxation rules governing the
private use of commercial vehicles.
With the benefit in kind tax for private use of a van increasing to £3,000 from April this year, construction companies are looking to prove to the Inland Revenue that they are not using their commercial vehicles out of hours so that they don’t have to pay the hefty tax duty. Vehicle tracking technology such as Trakm8 SWIFT is helping construction companies to monitor vehicle usage and run daily mileage reports so that they can effectively control costs.
As the Trakm8 SWIFT service costs just 47p per day, vehicle tracking is no longer solely in the domain of enterprise fleets. Using Trakm8 SWIFT, Helix Roofing Contractors Ltd, Cidon Construction, M&A Roarty Construction Ltd and Alpine Scaffolding have rapidly recouped the costs. With the majority of contractors working on customer site, they can monitor how long they spend on-site so that they can meet service level agreements, which in turn helps reduce unauthorised work or ‘private jobs’. They can also offer added value to their customers by providing them with accurate times of arrival or locating the nearest contractor to another customer site. Mr Glen Randles, Managing Director of Helix Roofing Contractors comments: “We primarily installed Trakm8 SWIFT to assist with the new taxation so that we can run weekly timesheets to demonstrate all business and private use of vehicles. However, we have achieved so many additional benefits such as the ability to calculate staff wages against time spent working on-site. This has helped us to cut overall costs within the business.”
Cary Knapton, CEO of Trakm8 Ltd explains: “The change in taxation has been a catalyst for companies adopting vehicle tracking technology. They not only benefit from the ability to better control their costs and streamline their operations, but their customers also benefit from getting timely and accurate information.”
Editorial contacts
For further information, images or for any quotes, please contact Natalie Lyndon at
the Trakm8 Press Office on: +44 (0) 2380 215383 or email:
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About Trakm8 Ltd
Trakm8 is recognised by ABI Research as one of Europe’s leading aftermarket
telematics vendors, providing GPRS-based hardware and software to the vehicle
tracking and security market. Since it started commercially trading in 2003, the
company has shipped over 90,000 telematics units worldwide. Trakm8’s products
allow vehicles and drivers to be monitored, allowing organisations to manage
deliveries and services, or track stolen vehicles down to as little as 5 metres.
Trakm8 Holdings plc is the holding company of the group of companies: Trakm8
Limited, Interactive Projects Limited and Purple Reality Limited. Both the holding
and ‘group companies’ all have registered addresses at; Lydden House, Wincombe
Business Park, Shaftesbury, Dorset, SP7 9QJ. For further information, please visit:
www.trakm8.com
About Trakm8 SWIFT
A small device is installed within the vehicle which feeds back detailed information to
Trakm8. Businesses can then monitor and report on their vehicles activities in ‘real-
time’ via any PC with an internet connection.
Detailed reports are available minutes after each journey ends. These reports are
able to show:
• Start, finish and overall driving times for automatic up to date and accurate
timesheets • Route replay – check no detours are being taken for example for an afternoon
coffee
• Assistance in ensuring that Working Time Directives are being adhered to
• Vehicles are being used to their maximum efficiency
• Speed/overspeeds
• Check fuel isn’t being wasted by excessive idling
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ABI Research 2006