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Owning a vehicle isn’t easy and with all of the confusing forms, tax bands and rules/regulations you need to stick to, it can be hard to remember if any of your licences or taxes are out of date.
However, there is some good news for vehicle owners! There is a new wave of VED road tax rules that are being introduced in 2017, providing a major shakeup for car lovers.
The VED (Vehicle Excise Duty) are responsible for road taxes and the change is set to launch from the 1st April 2017.
Confused? There’s no need to be! Here’s a rundown of the new VED road tax rules that will be applied to cars and vehicles next year:
All vehicles registered from 1st April 2017 and onwards will be taxed under these new rules and tax bands.
Cars registered after this date will pay a one off tax charge depending on their emissions, or nothing at all if your vehicle is emission-free!
The second years’ amount will again be free for cars with zero CO2 emissions, but an annual flat VED rate of £140 will be applied for other cars regardless of their yearly emission rate.
On average, the new changed to VED road taxes will be great for people intending to keep their cars for a longer period of time and higher-polluting vehicles.
The changes will be cheaper annually for cars within VED tax band F and above (more than 141g/km CO2 emissions per year) as their standard rate per year takes a huge cut.
For example, a car with 226 g/km of CO2 emissions per year can save £600 over 5 years; if you’re looking to keep the car for 10 years you’ll save a whopping £2500!
These changes, however, aren’t ideal for vehicles that are CO2 rated at 100g/km or lower. Although they are free of road tax, it will cost the owner £400 over 3 years, £680 over 5 years and a huge £1,380 over ten years.
Vehicles that have already been registered won’t benefit from these new changes as only cars registered after the certain date can take the benefits from the new VED tax rules.
The VED bands will stay in place for older vehicles and continue to use the existing rates.
It’s not all bad news, though – these old rates are definitely more favourable for vehicles with higher CO2 emissions!
Thanks to the newest update to the way in road tax can be paid, there’s no need to have an expiry date on your road tax.
Because this tax can now be paid monthly via direct debit, the fee is continually taken out of your bank account at yearly intervals that you agree to.
This means that your tax is renewed automatically and there’s no need to remember to get it updated. At least it’s one less thing to worry about!
Before you drive away with your new vehicle and take advantage of the new VED road tax rules, why not treat yourself to a personalised number plate? It’s the only car accessory that truly is one-of-a-kind and is the perfect addition to the new tax rules.