It’s already been announced that all UK motorists won’t have to display a tax disc from October this year.
But another significant and less publicised change will bring ongoing benefits for us classic car fans.
The UK car tax system for what the DVLA categorise as “Historic Vehicles” will revert back to a rolling year by year system. So cars over 40 years old will be exempt from Vehicle Excise Duty, or Road Tax as most people call it.
So, from 1st April 2014 cars built before 1st January 1974 will be exempt. Each year this will ‘rollover’ so in 2015 the exemption will apply to cars built before 1975 and so on.
This is the first change in the calculation since 1997 when the government abandoned the old 25 year rolling system. Previously it was only cars manufactured before 1st of January 1973 that have been exempt from Vehicle Excise Duty.
There were some great cars that were introduced in ‘73 & ‘74 including the (pictured) MGB GT V8 and the original VW Scirocco, which will now then benefit, along with a whole host of great (and some of our favourite) vehicles which were being produced in the 70’s!
The new 40 year rolling system could well see an increase in value for classic cars (as well as a yearly saving for those of us who already own a car!) built in the 70’s.
If you would like to save even more money on running your classic, then why not try us for an Insurance quote?
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