New 4x4 tax laws!!!!
Posted: Sun Apr 01, 2012 4:33 am
I just got through reading an article about how the Chancellor of the Exchequer, George Osborne, is planning on some late budget changes. What it boils down to is he's planning on introducing a new 4x4 tax in the next few weeks. Essentially this is a tax on all vehicles capable of driving more than one axle, and which are not classed as an HGV. The new proposals are that all passenger vehicles, light utility vehicles, vans and goods vehicles not specifically classed as HGV's will be taxed based on the number of driven axles, with the current tax rates used as the base calculation. This means that all 2wd vehicles, whilst technically covered by these new proposed laws, will not see any change in their tax rates, but all 4x4 vehicles will see their tax rates double overnight.
This isn't the end of the bad news. The government is also proposing as part of this "war on environmentally unfriendly Chelsea tractors" a new insurance tax. Essentially all insurance companies will be required by law to add VAT on top of Insurance Premiums Tax, but again, this proposal also affects only vehicles with more than one driven axle.
Essentially this means insurance of all 4x4 vehicles will be raised by 20%, overnight.
Full details can be found here
This isn't the end of the bad news. The government is also proposing as part of this "war on environmentally unfriendly Chelsea tractors" a new insurance tax. Essentially all insurance companies will be required by law to add VAT on top of Insurance Premiums Tax, but again, this proposal also affects only vehicles with more than one driven axle.
Essentially this means insurance of all 4x4 vehicles will be raised by 20%, overnight.
Full details can be found here
