ZENITH Vehicle Contracts has launched a new internet-based system designed to reconcile tax data for companies offering employee car ownership (ECO) schemes.

The system pledges to reduce administration and provide fleet executives with greater control over the tax reconciliation of running costs, fuel for business and private mileage.

Philip Jerome, sales and marketing director at Zenith, said: 'Because the system is internet driven, companies can either supply Zenith with mileage data en masse or ask drivers to record their mileages online. Employers and their tax advisers can then review individual drivers or the fleet as a whole in real time and run off reports as required.'

Vehicles from existing ECO schemes can be added to the system alongside new agreements. It can also adapt to companies with year-ends falling in the middle of the tax year and drivers changing cars mid-term.

Jerome added: 'The system will help employers understand the cost of running an ECO scheme and maximise tax efficiencies for both the organisation and its drivers.'