Managing all the costs associated with running a car, as well as avoiding any potential fines, can be one of the hardest parts of car ownership.

However things may be about to get a bit simpler with the launch of a new app designed to manage most aspects of car ownership.

Called Caura, the app is said to be an industry-first in the way it can control car ownership. Powered by entering your car registration into the system, Caura can then take care of any parking fees, MOT, road tax, car insurance and even any congestion charges – such as those in London.

Through the app you can pay for selected parking toll roads and other road charges, while notifications will alert you to when you need to pay for or renew something. The firm says it aims to offer a ‘21st century driving experience’, and avoid drivers being handed fines for not paying for the likes of the London Congestion Charge, for example.

Dr Sai Lakshmi, CEO and founder of Caura, said: “The billions of pounds in penalty fees UK consumers incur from mistakes or late payments for parking, congestion charges, road tax, tolls, MOT and insurance are totally avoidable.

The current system – fragmented, confusing and outdated – is not only costly but a massive source of anxiety. By eliminating the need for dozens of apps and services, we are removing hassle, confusion and unnecessary expenses of car ownership.”

Caura is currently just available on Apple devices, but the firm says it will expand onto Android devices later this year, along with plans to expand its product offering through the app.