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Fuel is an essential expense for your construction company. You need diesel and petrol to power the vehicles on your sites, deliver the materials you use for building and get your workers to their jobs.
But if you don’t manage and control your fuel spending then this could impact on your company’s profit margins.
In this article, we explain how fuel cards help you to run your business, highlighting how they can save you time and money and make it easier to manage your costs.
Fuel cards can help construction companies run their operations more efficiently. They make it simpler to review where money is being spent on fuel, providing the data managers need to use their cash flows and expenses more effectively.
We’ve highlighted the three key ways fuel cards can benefit your construction company.
Cash flow issues are a main trigger of Insolvency in construction companies.
Whether you’re running a small business that works on home improvements or a much larger operation, you will know that the single most important factor is making sure customers pay you in full and on time. Even so, the smaller things add up too.
Fuel is an important expense for construction companies. With heavy tools and materials in your van, the fuel consumption will be higher even if your mileage is not so great. Fuel cards help your business keep diesel costs under control.
Fuel cards provide this benefit through online reporting. This shows you how much money you’re spending on fuel and other costs. By seeing all fuel spending consolidated into a weekly or fortnightly invoice, with a breakdown of where and when each purchase was made, you can see how to cut unnecessary expenditure by combining trips, stopping your employees carrying around more heavy tools than they need and also use fuel card security features to make sure your expenses claims are only refunding fuel used for work.
Logging paper fuel receipts can be a time-consuming job but it’s obligatory if you need to refund drivers or reclaim VAT on business fuel. Fuel cards take this task away, as every purchase is logged automatically.
The pain of going through reclaiming VAT on fuel expenses can be time-prohibitive to small construction business owners. Even larger companies don’t want to spend more time making VAT claims than they need to. Fuel cards help your construction business to streamline its VAT claims, saving you time and helping your company get the tax rebates that it’s owed.
How? It’s simple. A fuel card management system can automatically generate an HMRC-compliant invoice, detailing all the information HMRC requires. There’s no need to add up or manually log fuel receipts. Every purchase with a fuel card shows up in your management software automatically within minutes.
The best fuel cards for construction companies make life simpler for you and your workers. They give your drivers access to the fuel they need and provide you with reporting information that gives you a bird’s eye view of your diesel expenses.
There are many great fuel cards available for UK businesses and some are better for those in the construction industry than others. We’ve listed five that offer the specific benefits your construction company needs.
Click on the links below to find out more about how each individual card makes it easier for you to run your business.
|Fuel Card Name||Key Benefit||iCompario Star Rating|
|Texaco Fastfuel Card||Buy fuel at wholesale price||⭐⭐⭐⭐⭐|
|Shell CRT Fuel Card||Competitive weekly fuel prices||⭐⭐⭐⭐|
|European Diesel Fuel Card||24/7 HGV station access||⭐⭐⭐⭐|
|BP Plus Bunker Fuel Card||Use at over 600 bunker stations||⭐⭐⭐⭐|
|Diesel Card Ireland Fuel Card||Biggest fuel network in Ireland||⭐⭐⭐|
iCompario is the free online marketplace for business products and services, where managers and owners can research and rapidly compare fuel cards, vehicle tracking systems, insurance, telecoms and other essentials. The team follows up online queries by telephone so every site visitor finds their ideal, future-proof product at the best price possible.
If you want to check out the fuel cards on offer before making your decision then head over to our fuel cards page now.