Can enthusiasts on the other side of the pond catch a break?
A new report out of the UK warns owners of classic cars about their Vehicle Excise Duty (VED) tax payments increasing by 10.1 percent at the start of the month. This move apparently was done to keep up with inflation, which makes sense since government policy causes inflation and anyone who owns a classic car is a walking ATM for the government to tap whenever needed.
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Apparently, there’s a way to get your classic exempt from taxes in the UK if the vehicle was first registered over 40 years ago. The only way to confirm this is the case is by checking the V5C registration certification or logbook. Then you have to apply for the historic vehicle tax class. You still have to maintain insurance coverage and go through the annual tax process even if you don’t end up owing anything. So after all that, you might escape the increased bloodletting at the hands of the government.
Lately it seems like UK enthusiasts just can’t catch a break. After all, the government pumped up VAT on classic cars at the start of 2021, an additional 10 percent import duty on classic cars coming from mainland Europe was also instituted. If Brits want to go for a drive on the continent, it’s more expensive and complicated since they left the EU.
Enthusiasts also had to fight a proposed law that would have made “tampering” with vehicles illegal. While perhaps the move had some good motivations behind it, as enthusiasts we wouldn’t be amused by that sort of thing.
Those who live in London a for the privilege of driving in the city. Failure to comply with that can result in the forced sale of your beloved classic.
UK classic car owners also have to be careful when refueling now that E10 is available to the public. All that ethanol can wreak havoc on a classic car’s fuel system.
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