6.3 C
Lancashire
Thursday, March 28, 2024

Bowker Motor Group gives the Low-Down on Vehicle Excise Duty (VED) Changes for Lancashire Drivers

VED, also known as road tax, is due to be reformed on 1 April 2017. The changes, announced in the 2015 summer budget, will mean those with more expensive vehicles will pay significantly more tax

Bowker BWM got in touch with 4 local accountants to get their view on how the changes will affect our customers.

View here: Bowker Motor Group Low Down

VED will still be based on the car’s CO2 emissions for the first year, but after that it will be grouped into three bands: zero, standard and premium.
Zero – Zero-emission vehicles under £40,000 will be exempt from all charges

Standard – Vehicles up to £40,000, with CO2 emissions from 1g/km upwards, will incur a VED rate of £140 from year two

Premium – Vehicles with a list price over £40,000, even those with zero emissions, will incur a VED rate of £450 from year two

The First Year Rates (FYRs) of VED will vary according to the carbon dioxide (CO2) emissions of the vehicle (detailed below). A flat standard rate (SR) of VED of £140 will apply in all subsequent years, except for zero emission cars for which the SR will be £0. In addition, any cars reaching their second licensing period – including zero emission vehicles – with a list price (including options) of over £40,000 will incur an additional, supplementary charge of £310 per annum for the next five years. This means that vehicles registered after 1 April 2017 that fall into a list price category of over £40,000, will pay the £140 standard rate plus an additional rate of £310, reaching a total of £450 for the next five years.

These changes will particularly affect owners of premium cars with low emissions, including many BMW models.

If you are considering purchasing one of our cars, there is now good reason to act sooner rather than later, even though low running costs will always make BMW an economical choice.

To discuss the changes, and for a full list of our stock that is available for delivery before April 1st 2017, please call Bowker Preston BMW on 01772 766070 or Bowker Blackburn BMW on 01254 274444.

spot_imgspot_img

Latest

The Emergence of Cryptocurrency Casinos: Exploring the Intersection of Business and Online Gambling

In recent years, the gambling industry has experienced a...

Mastering the Art of Project Tracking

Project tracking involves the thorough monitoring of every task...

Considerations to make before going to court for a PI case

Are you considering going to court for a personal...

Police appeal for information following Thornton Cleveleys vehicle fires

Detectives are investigating the cause of multiple vehicle fires,...
spot_img

Subscribe to our newsletter

Business Lancashire will use the information you provide on this form to be in touch with you and to provide updates and marketing.

Don't miss

England vs Brazil Betting Offers & Odds

It is just 3 months until the European Championships...

Best Horse Racing Betting Apps In The UK – March 2024

If you are looking for the top horse racing...

Manleys Law Firm Applauds George Leeming’s Transition from Paralegal to Solicitor

In a significant development for Cheshire's Manleys, a law...

Considerations to make before going to court for a PI case

Are you considering going to court for a personal...

More News

Preston’s only windmill could be converted into an Airbnb

The last windmill in Preston may be turned into an Airbnb or a house share if planning permission is granted. Plunginton's grade-II listed building has...

Burnley’s Saira Hussain recognised as inspirational woman in STEM at the House of Lords.

The UK government commissioned Alison Rose Review of Female Entrepreneurship highlighted that women entrepreneurs are underrepresented in the most productive sectors of the UK economy, and...

Data shows more than a third of children are living in poverty in the Northwest

Greater Manchester Poverty Action and End Child Poverty Coalition have launched their annual statistics for the UK surrounding child poverty – with children living...