Could
your MGBGTV8 qualify for Historic Vehicle status & VED
exemption?
A
surprise announcement in the Budget 2013 support document released by HM Treasury
shortly after the Chancellor of Exchequer made his Budget statement to the House
of Commons on Wednesday 20th March 2013 was an extension to the cut-off date for
classic vehicles qualifying for exemption from Vehicle Excise Duty (VED) by one
year. This extension will apply from 1st April 2014 to a vehicle manufactured
before 1st January 1974.
See our
Budget 2013 report
Note: the Finance Bill still needs to pass through
the UK Parliament to bring this concession into effect.
Update:
the Finance Act 2013 received Royal Assent in July 2013 but see our NEWS item
on this. 130802 More
Posted: 130522
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 | From
1st April 2014 you should be able to tax your vehicle in the 'historic vehicle'
tax class if it was built before 1st January 1974. Then you will not have
to pay vehicle tax (VED), but you must still go through the process of "taxing"
it every year and displaying a "nil value" tax disc.
So the
question is when was your car built? The key piece of information you need
is the "build | date"
and not the date of first registration which is the date usually recorded on the
V5C (Vehicle Registration Document). Of course if you have an MGBGTV8 which has
a V5C which shows it was first registered on or before 31st December 1973 (and
in some cases on or before 7th January 1974) then you should qualify too. From
a discussion with the certificates officer at BMHIT Gaydon the date accepted as
the "build date" for the MGBGTV8 model is the "Date through Paint
Finishing".
The production of chrome bumpered MGBGTV8s ran from the
early development cars in late 1972 through to the start of production in 1973
in preparation for the launch of the model in August 1973. Then production of
the chrome bumpered models ran on into 1974. Many chrome bumpered MGBGTV8s were
built in 1973 but a significant number were built in 1974 so the cut-off date
for the new VED exemption of 1st January 1974 is right in the middle of the chrome
bumpered MGBGTV8 production run.
How can you check the build date
for your car and if your car was built in 1973 then how can you apply for Historic
Vehicle status and the VED exemption? Our detailed guide note explains. More |
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