GREAT News for Classic Car Drivers!
As from April 2014 a rolling 40 year VED exemption is to be re-introduced for classic cars...
Paste this search into your search engine to be taken to the pdf file on the UK Government website which will give full details.
Vehicle Excise Duty: 40 year rolling exemption for classic vehicles
YOU HEARD IT HERE FIRST. I'm off for a pint or two...
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Tax (VED) exemption is to be moved forward by one year so any vehicle built (not registered) before 1st January 1974 will be eligible for free road tax.
Here's the paragraph from the budget statement:
2.148 VED: classic vehicle exemption
– The Government will extend the cut off date from which classic vehicles are exempt from VED by one year. From 1 April 2014 a vehicle manufactured before 1 January 1974 will be exempt from paying VED. (Finance Bill 2014)
There is no hint that the rolling tax exemption (introduced by Kenneth Clark when he was chancellor and frozen by Gordon Brown when he was) is going to be re-introduced but there is hope that a 40 year rolling exemption is being contemplated. We should know in April…
Secondly, SORN declarations are to last indefinitely. Currently when a vehicle is kept licensed but not taxed, a statutory off road notification needs to be applied for and this SORN lasts for a year after which it has to be renewed. This is going to alter to a system that allows the SORN declaration to last until the status of the vehicle changes. This is due to happen in April 2014 I'm sure the DVLA will notify those of us who have SORNed vehicles in due course...
Thirdly, Vehicles built before 1st January 1960 will not be required to undergo an annual MoT test. The thinking being that such vehicles are owned by enthusiasts who only use them occasionally and tend to keep them in good mechanical order.