In the past two years, car tax prices have risen for many motorists due to the vehicle excise duty increases. How much you pay depends on what kind of car you have and the emissions. If you know your car will be badly hit by rising car tax prices and are looking for a chance to swap in your car for a more efficient model, then we will buy your car.
In 2017, they limited the cars that don’t pay any tax to ones that produce 0g/km of CO2 and cost under £40,000.
There was a luxury surcharge applied to cars that cost over this amount by £310.
Second-year rates were also introduced for all cars within the UK. The second-year standard rates are £140 per year for petrol or diesel vehicles and £130 per year for alternative fuel vehicles. It is £0 per year for vehicles with zero CO2 emissions.
Since April this year, new diesel car owners faced paying one band higher car tax rates as a result of a clampdown on emissions.
If the vehicle didn’t meet the new standard for emissions then motorists have to pay more.
This added between £20 to £500 on the cost of car tax for someone who registered their car after that date.
Now the 2018 Budget announcement has revealed that in 2019 drivers will face another price hike.
It was confirmed in the Budget that “from 1 April 2019, VED rates for cars, vans, and motorcycles will increase in line with RPI.” This means that for the majority of motorists, they’ll face an increase of £5. Motorists that own older cars with higher emissions can expect to pay an additional £15.
New car owners are expected to face the biggest increases as they could be forced to pay a huge £65 more on their first year of tax.
The new car tax rates coming into action in April 2019 were confirmed in the Overview of Tax Legislation and Rates document released by the government.
Philip Hammond announced these updates in the Budget in October. He said that the rises were to be used to improve the UK road network.
We Buy All Makes & Models