You may remember last year we announced the changes that were to come into force in relation to Vehicle Excise Duty (VED) this year. Well, from next month those changes come will be in place therefore we thought we’d take the opportunity to give you a recap.
If you’re planning on buying a new car after 1st April, the way in which you pay road tax will have changed significantly.
Any card registered after 1st April 2017 this year will see a charge linked to carbon emissions and yet it is those buying cars with low CO2 emissions that face the highest relative rise in the tax.
Going forwards there will be 3 bands, Zero, Standard and Premium, these will in turn determine how much a car owner will pay each year.
It is worth noting however that if you have an existing car, these rules changes do not apply and you will continue to pay VED under the existing rates.
From the beginning of April only newly-registered cars with zero emissions will escape VED meaning only electric cars and hydrogen powered cars will escape.
It is said that the money raised from VED this will be paid into a roads fund to help towards the upkeep of the UK’s motorway and roads. So what will the costs be of newly registered vehicles from the beginning of next month? You can find out on the Government’s website page Vehicle Excise Duty.
If you’re considering a new car and you’re thinking of leasing then my not talk to us at Cocoon Vehicles? We specialise in short-term leasing and vehicle sourcing and we cover nationwide. Give us a call today and speak to the team on 01332 290173 or complete the form below and we’ll be in touch as soon as we can.