Provecta’s Employee Car Ownership product

Provecta launched its Employee Car Ownership product in 1995 to address the conundrum of how to provide suitable cars for corporate employees without incurring additional expense or company car tax. With the Provecta ECO, employees are given a monthly allowance in their salary and have access to a wide variety of cars at ‘fleet discount’ prices.

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For a monthly payment, the employees’ vehicles receive full servicing, road tax, and can also include insurance. Drivers often have the choice of using their full allowance, or adding to it from their salary to upgrade the car, or select a cheaper option and pocket the difference.

Although driver choice and flexibility is increased, controls are put in place to ensure health and safety procedures are adhered to and all cars are fit for purpose. Drivers are reassured by a company-car type package, without the tax implications, and employers avoid the financial and administrative burden of a company car fleet and keep the finance off balance sheet.

Provecta has also developed MyMiles – a unique, stand-alone on-line mileage capture and fuel management system that is designed for fleets of any size; whether they run company cars, Employee Car Ownership plans, drivers using their own private cars or any combination of these. MyMiles accurately stores and calculates mileages, prompts drivers to complete regular records, has in-built health and safety controls, is designed to comply with HM Revenue & Customs requirements and links with payroll for credits or deductions as required.

In May 2008, Provecta was acquired by Zenith Vehicle Contracts Limited, creating the UK’s largest independent fleet management company.

Provecta is a long-standing member of the Low Carbon Vehicle Partnership – http://www.lowcvp.org.uk/.

For further information, go to www.provecta.co.uk or www.mymiles.co.uk