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Good news, your classic car is about to become tax free

Good news, your classic car is about to become tax free

18 March 2015

Well, this statement is true for a few people…

Announced in today’s budget Chancellor George Osborne confirmed that the rolling tax exemption for classic vehicles will continue.

So if you have a classic car or bike built in 1975 no road tax or its correct term Vehicle Excise Duty will apply.

A few years back the rules meant that once a car reached 25 years old it could be re-classified as a Classic car and all you had to do was get your free tax disc from the post office. It was great whilst it lasted as at some point every vehicle would be included, that was until the New Labour government revised the rules again making it fixed to pre-’73 vehicles.

Good news, your classic car is about to become tax free

 

The rolling system was re-introduced last year after being overhauled with a cut-off date of 40 years updated every year on the 1st April.  So considering its 2015 is owners of pre-’75 classic cars that are going to feel the benefit of free road tax this year.

To put any confusion straight the rules apply to the date of manufacture and not the date of first registration. So from 1st April 2015 classic cars built and registered before January 1975 will qualify for free tax.  Just remember to change your V5C (Log Book) from Private/Light Goods to historic.

So what do you do if your car was built before January 1975 but registered after?

You can still go through the same process outlined above but also include proof of the date of manufacture from a source such as a classic car club. Classic car clubs are not only a great source of parts, shows, events and like-minded people but you will find that they will usually have a register of dates that correlate to chassis numbers that were made.

Right then, off you go it’s time for you to go and do your own research. Who knows it may save you some money this year?

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