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Going by the tables I have seen there are three categories : 'zero' , 'standard' and 'premium' .
Separately from the emissions based levy in year one , cars falling into the zero category pay nothing in subsequent years , save for the £310 surcharge if they cost over £40K , 'standard' cars pay £140 plus the surcharge , makng £450 in years 2 to 5 and £140 thereafter , and 'premium' cars will pay an undisclosed sum from years 2 onwards , plus the surcharge . All cars listed in the published tables are either zero or standard rated , nothing else has been quoted .
Budget 2015: Vehicle Excise Duty reform for new cars - BBC News
According to the text in the pdf linked from post #39:I thought it was years 1-5, as that was the whole point of it that new car buyers pay in the first year?
As Standard Rate (SR) is not paid in year 1, that means the supplement is paid in years 2 thru 6 inclusive....a supplement of £310 will be applied to the SR of cars with a list price (not including VED) over £40,000, for the first five years in which a SR is paid.
According to the text in the pdf linked from post #39:As Standard Rate (SR) is not paid in year 1, that means the supplement is paid in years 2 thru 6 inclusive.
There may be some arguable logic that those who can afford to pay a substantial sum for a new car can afford to pay more duty and therefore should. However, most who purchase a high-value car new keep it for 3 years or less, so the policy will disadvantage people who wish to buy what was a high-value car on the used market that has depreciated significantly. Typically, a £40k at list price car will retail for something around £16k - £18k at 3 years old. A new car in that price bracket would not attract the VED supplement, yet the used "premium" car would - for four more years. This looks to be a gross distortion and its hard to imagine that it won't hit residuals meaning that the first owner will get hit twice: once for additional VED, and again by additional depreciation. Looks more like a policy of envy to me.
Having said all that, it's a bit of a "first world problem" when you see the effect the changes to in-work benefits will have on the poorest members of society
Having said all that, it's a bit of a "first world problem" when you see the effect the changes to in-work benefits will have on the poorest members of society
British motor industry; Range Rover, Jaguar, Aston Martin, Rolls Royce, Bentley, etc. the new VED is like sticking one up what seems to be one of our few remaining manufacturing successes .....
I don't think this will stop people buying new cars and something has to give to compensate for the increase in the higher rate tax threshold.
British motor industry; Range Rover, Jaguar, Aston Martin, Rolls Royce, Bentley, etc. the new VED is like sticking one up what seems to be one of our few remaining manufacturing successes .....
British motor industry; Range Rover, Jaguar, Aston Martin, Rolls Royce, Bentley, etc. the new VED is like sticking one up what seems to be one of our few remaining manufacturing successes .....
C'mon....
New Aston DB9 £120,000 - current best leasing deal £2000 per MONTH.....
Do you really think £40 a month will persuade that buyer he should get a Focus instead??
There will be NO impact at all on the cars you mention.
The impact will be on cars from £35000 to £45,000
Then, there will be a real incentive for the LIST price to be lowered to just below the £40k threshold...
What's wrong with the old argument of putting the VED into the fuel duty so the heavy users of the road (and cars that consume the fuel at a faster rate) pay for it at the pumps? Electric cars don't pay as they don't visit the pumps.
British ???? motor industry; Range Rover, Jaguar, Aston Martin, Rolls Royce, Bentley,
RANGE ROVER-- Tata-Indian multinational
JAGUAR----------Tata Indian multinational
ASTON MARTIN-Investment Dar / Mahindra Mahindra / Investmentindustrial/who-knows ?
ROLLS ROYCE---BMW German
BENTLEY----------VW AG German
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