Motorists who drive older cars could be hit with a Vehicle Excise Duty (VED) increase in the very near future.
Drivers who own older classic cars are bracing for a hit as they are set to face an increased car tax price which could come as a huge blow.
The most substantial alterations will see certain first-year VED rates double, meaning those driving brand-new polluting models could face paying thousands more to use the roads. However, models registered between 1984 and 2001 will also be impacted by the changes, facing slight increases compared to previous rates, the Express reports.
Meanwhile, those with slightly more powerful engines above the 1549cc threshold will pay £15 more from April. Annual rates will stand at £360 over the next financial year, up from the current £345 rate. However, these price rises are not as steep as the last increase in spring 2024 when vehicles with engines over 1549cc saw a £20 increase in annual rates, with bills rising from £325 per annum to £345. Vehicles produced after 2001 follow a different VED tax system where engine sizes are no longer considered.
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