Here I am with what may seem an obvious answer to many but I will ask anyway.
Working as a subbie for say…Maritime!
- what miles could a driver do in say a Mon-Fri day work role where you get home every day, giving them say 12 hrs. a day work?
- I’ve looked at the contract from say…Maritme! I’m no mathematician so can anyone explain, in Idiots guide lingo, just how the fuel “surcharge” thing works. figures given in contract…5%of 82ppl -30% =2%!!! is the whole point of this fuel surcharge to put more money in your pocket on top of what they give you per mile?
3.Can anyone explain how having a fuel card from someone, say RHA, benefits a sole operator, does it give you actual cheaper price at the pump.
4.Working for yourself, as you can claim tax back on various things, via good accountant of course, can you claim tax back on the fuel you use over the year also?
Cheers all,
4.) You claim back the VAT on fuel yourself in your quarterly VAT return. Your accountant offsets your expenditure on fuel less the VAT, against tax in your annual accounts. If you use a van to travel between home and the lorry you can do the same thing; if you use a car it is more complicated.
Thanks for reply there. So, say £20000 spent on fuel for the year as sole operator. I will get some tax back at end of year then? Any idea roughly what rate that would be? Do generally then most self employed look upon this as a lump sum bonus at end of tax year and I suppose in the end that the price you pay at the pump is actually reduced once you get this back? cheers again for reply
No, it means that during the course of the year £3333 will have been paid in VAT at the pump. You will have added VAT to your invoices and during the course of the whole year your payment to HMRC for VAT will be lower by £3333. The remaining £16,667 ie net of VAT will be a cost of operation in your accounts so in effect you will not be taxed on that £16,667. Unless you make a trading loss during the year you will not be getting any money back; you will just have less tax to pay.
All this assumes that you are VAT registered. You need to speak to your accountant about how to keep your books.
Truck returning to base, one driver, keeping in drivers hours, for me- I expect 2400km per week
The maritime fuel surcharge is unique. Ithe work is well underpaid so anything that’s a top up should sound alarm bells to u.
A fuel card will give u a fair price.if the morrisons at the end of your road is charging £1.05 including taxes, then expect motorway services to charge £1.20. This fuel card will allow you to refuel at motorway services at around the same price as your local morrisons. I think my bp bunker card is same the week, but uk fuels is a penny cheaper
I hope I have come up with a possible way they have arrived at 2% for a fuel price of 82ppl excl VAT
They appear to have started off by finding the price that has 5% added to it just like one would take the VAT out of a gross price so:
105/5 =21
82/21 =3.9
3.9x 30% = 1.17
3.9-1.17 =2.73
which rounded to their benefit 2.73 =2
2 =2%
Where the 5% they started off with and the 30% came from who knows?
below is a link to another company’s fuel surcharge policy:
trustfirmin.com/sp9/im_up/Fu … 82base.pdf
The 30% is the percentage of the total amount the truck earns which is fuel eg. if the truck earns £2500 in a week then 30% of this will have been spent on fuel which is £750. This is only a rough figure but is used as a calculating figure in the case of fuel surcharge.
Maritime guarantee 1300miles a week.
One of our trucks last week on a monday - friday week did just shy of 3000KM
Just wondering, that truck that did just shy of 3000km, was it out all week and returned on Friday or back to base each day?
Left at 2am Monday morning and got back 2pmish on friday afternoon.