As a self-employed entrepreneur, you are always on the move. Whether you are visiting customers, meeting suppliers or simply driving to and from your office, your logistics costs can be high. Fuel costs in particular can take a big bite out of your budget. Fortunately, there is a solution: the fuel card. In this blog post, you will learn all about the benefits of a fuel card for the self-employed.
What is a fuel card? 🔎
A fuel card, also known as a fuel card, is a special card you can use as a self-employed person to pay for fuel for your company vehicle. The card is often tied to one or more filling stations and you can get discounts with it. Moreover, you can often use the card to make other payments, such as paying for toll roads or using the carwash. 🛣️🚗
✅Advantages of a fuel card
There are several advantages to using a fuel card. We briefly list the most important ones:
- Tax advantages💰:The cost of fuel is deductible in Belgium. The deductible percentage depends on the type of engine and CO2 emissions of the car.
- Discounts 🎫: Fuel cards often work with discounts. This can be in different ways: a fixed discount at one filling station or at one brand, or a minimum discount at all stations.
- Simple administration📝: A fuel card is also normally linked to services that provide periodic invoices. This makes administration a lot easier.
Choosing a fuel card
Selecting the right fuel card for your self-employed needs can be challenging, especially with so many options on the market. Here are a few things to keep in mind:
1️⃣ Coverage: Which filling stations accept the card? Is there a good network of filling stations in the areas where you drive the most?
2️⃣ Cost: What are the costs associated with the card? Are there monthly or yearly fees? Are there transaction fees when refuelling?
3️⃣ Extra benefits: Does the card offer additional benefits, such as discounts on other services, access to additional features or rewards for using the card?
4️⃣ Management of the card: How easy is it to manage your account? Does the card offer online access to your account and detailed reports?
By considering these factors, you can make an informed choice that suits your needs as a self-employed person.
Fuel card for sole proprietors versus partnerships
Both sole proprietors and companies can enjoy the use of a fuel card. However, there are some differences between companies and sole proprietors:
- With a company , you personally do not have to incur any costs for your fuel card, as all costs are borne by your company. And did you know that a fuel card is not considered a benefit in kind, unless you choose a fuel card without a company car? So nice and tax-friendly for self-employed people with a company!
- For self-employed sole proprietors, they can deduct part of the cost. But, in doing so, they have to take into account all kinds of cost and vAT formulas.
- As a self-employed in secondary occupation, you may also deduct your fuel costs. However, it is important to have a good idea of the percentage you use for private purposes.
Tip:
Be sure to also view our blog article on mileage reimbursement for sole proprietors!
Entering fuel costs in Dexxter
Discover below how to book a fuel receipt in Dexxter.
Conclusion 🏁
A fuel card can be a valuable tool for self-employed people, saving them money, time and administrative hassle. With the right fuel card, you can simplify your administration, manage your cash flow and even save money on fuel. Whether you choose the octa+ fuel card, the fuel card self-employed kbc, the fuel card self-employed total, or any other card, the important thing is to select a card that suits your specifically self-employed needs.
