Significant changes are on the horizon
Owners of older classic cars are set to be hit by new car tax price increases. Vehicle Excise Duty fees, an annual tax paid by owners of vehicles that are driven or kept on public roads, will rise for almost all petrol and diesel owners in spring with major updates on the horizon.
These older vehicles are priced under a slightly different tax system with varying rates for cars with engine sizes above or below 1549cc. According to motoring experts at Pete Barden, motorists in the lower power bracket will pay £220 in 2025/26. Annual rates will stand at £360 over the next financial year, an increase on the current £345 rate. However, price rises in this category are not as steep as the last increase in spring 2024, reports the Express.
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