Frequently Asked Questions

We already offer cash to our drivers and we don’t want to change it, how will Xenon help us?
Xenon's system is based on maximising tax efficiency within current legislation guidelines and we will therefore work with you to make your existing policy more tax efficient towards AMAP rates without changing it.

We keep records of driving licenses and insurance policies annually, what more protection does Xenon offer?
Xenon's system will support what you already do by obtaining a monthly confirmation on these matters from your drivers, without increasing your administration.

We have looked into cash allowances before but too many drivers do high mileage, can TMC Fleet cater for this?
Our solution for protection against Duty of Care will give you the confidence in drivers that are using their own cars for business regardless of the business mileage.  In fact, using the Xenon system, generally speaking, the higher the business mileage the higher the savings potential for your company. Every business mile driven will work out at an 'x' pence per mile saving to you.

What is PCP?
PCP stands for Personal Contract Purchase. PCP is a funding package based on a hire purchase agreement, combined with options to offset some of the risk with running a car. You purchase your choice of vehicle via a series of monthly payments, comprising of repayments and interest. You do not even need to put down a deposit, although doing so will reduce your monthly payments. No VAT is imposed on the monthly payments, but additional services such as maintenance are subject to VAT. At the end of the agreement you can choose to either part exchange the vehicle for a new one, pay off the outstanding balance and own the vehicle or simply walk away with nothing more to pay.

Our fleet discounts are so high, it is too expensive for us to offer a cash allowance, can the potential savings make this possible?
In some circumstances you may be right as manufacturers will not allow Fleet Discounts that you negotiate to be utilised by cash allowance drivers. If they do then this would qualify as a taxable benefit. However, our fleet partner, Fleet Alliance, is totally independent from either manufacturer or leasing company and as a result it is not unusual for their negotiated discounts to exceed our clients own terms. These are passed on to drivers in the form of lower PCP rentals.

ECO schemes are too complicated – where does Xenon differ?
Xenon's system uses Inland Revenue rules that are statute and is therefore very simple to gain Inland Revenue approval. There are no complicated 'tax plays' that can take many months to gain approval on and are difficult to manage resulting in it being many months before savings are realised.

We direct our drivers to our existing fleet suppliers for PCP and don’t need to change that, how will Xenon fit in?
Our Software only package will offer a significant benefit and we will not be in competition with your existing supplier.

We don’t currently offer cash so how can we make a saving with Xenon?
Xenon will carry out a full analysis on your fleet costs to identify whether there are any savings that can be achieved by switching to a cash allowance. We are able to tell you what the cash allowances should be and an estimate on the savings that you will make. In some instances it may well work out in your favour to stay with company cars.