Reduce the tax exemption age petition

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marina12
Posts: 1826
Joined: Sat Jun 09, 2012 1:36 pm

Reduce the tax exemption age petition

Post by marina12 » Sat May 08, 2021 12:38 pm

Doesn’t affect too many of our cars now but here it is anyway. Admin if not allowed please delete:
https://petition.parliament.uk/petitions/578294

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PHUQ
Posts: 2098
Joined: Sat Apr 10, 2010 5:15 pm
Location: Stonehouse, Glos.

Re: Reduce the tax exemption age petition

Post by PHUQ » Sat May 08, 2021 4:09 pm

These come around every now and again; it won't make any odds. We're lucky that it's rolling again to be honest and 40 seems a pretty reasonable number to me.
Matt
1974 1973 Tundra Black Tulip 1800 SDL TC Estate "Mud"- Freshly Franked rolling shell.
Really, really horrible 1974 Black Tulip 1300 DL- Basically compost.

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timspencer
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Joined: Fri Oct 23, 2015 11:17 am

Re: Reduce the tax exemption age petition

Post by timspencer » Tue May 11, 2021 10:25 am

As most of my cars are between 30-40 it would save me about £1000 a year!

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marina1300coupe
Posts: 254
Joined: Tue Jan 05, 2010 10:27 am

Re: Reduce the tax exemption age petition

Post by marina1300coupe » Thu Jun 24, 2021 5:27 am

As this petition has reached 10,000 signatures the Government has responded, it currently stands at 13,358 signatures and needs to reach 100,000 by 13 October 2021 to be considered for debate in Parliament. The response is as follows:-

The Government considers that classic vehicles are an important part of the country’s historical and cultural heritage. According to research by the Federation of British Historic Vehicle Clubs, in their publication The 2020 National Historic Vehicle Survey, the historic car industry employed around 34,000 people in the UK.

Recognising the important role played by historic vehicles, the Government announced at Budget 2013 that it would be extending the cut-off date from which classic vehicles are exempt from paying Vehicle Excise Duty (VED) to 1 January 2014. At Budget 2014, the Government then announced that it would introduce a rolling 40-year VED exemption, which means that currently vehicles constructed before 1 January 1981 are exempt from paying VED.

The Government set 40 years as being a fair cut-off date that distinguishes classic cars from old cars. There are no current plans to reduce the tax exemption age for classic cars from 40 years to 30 years, but as with all taxes, VED is kept under review.

HM Treasury


Ian

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