Good News in the Budget - Vehicle Excise Duty rolling exemption for classics
By: Andy Gillard
Those with good memories may recall that when the 'historic vehicle' VED class was introduced a few years ago, exempting older vehicles from paying road tax, it was initailly planned to run with a 25 year rolling exemption.
The Government soon realised however that this could cost them valuable revenue and fixed the exemption it to vehicles constructed before 1 January 1973.
Good news however, because in the latest budget the rules have been changed with an automatic rolling exemption to be introduced as of 1 April 2014 to vehicles constructed 40 or more years ago (using 1 January each year as the cut off).
From a classic scooterists' point of view this means that not only are all Italian Lambrettas, pre-1973 Vespas and all classic British scooters exempt, but from 1 April this this will grow to include the popular early Spanish Lambrettas and 1970s Vespas (Rally 200s, 150 Supers, Primaveras etc), and in just a few years time will also include the first of the Vespa P-range too.
Apparently the VED exemption is intended to support the classic vehicle scene, which the Government considers "are an important part of the nation’s historical heritage," presumably prompted by research from the Historic Vehicle Research Institute and the Federation of British Historic Vehicles Clubs' publication The British Historic Vehicle Movement: A £4 Billion Hobby, which suggests that the historic car industry employs about 28,000 people in the UK.
Or it could be they are trying to get more voters onside as well as appeasing all the classic car owners in the House of Lords.
Whatever he reason, it's still good news for scooterists!
For more details visit www.gov.uk/government/publications/vehicle-excise-duty-40-year-rolling-exemption-for-classic-vehicles
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