NEWS, V8 Register - MG Car Club, MG owners, MG owner, support and services for all MG V8 enthusiasts and owners, MGBGTV8 and MGB GT V8 for sale, Costello MGBV8 for sale, MG RV8 for sale, MG RV8 buying guide, MGBGTV8 and MGB GT V8 buying guide, MGV8 price guide, MG SV, MG X80, MG ZT260V8, MG owners, MG enthusiasts

Push to reduce VED exemption to a rolling 30 years

Comment
Whilst classic car enthusiasts with cars from the early 1980s and early 1990s (many "hot hatchbacks") would welcome the 10 year reduction in the rolling VED exemption, with the present difficulties the Chancellor of the Exchequer faces in dealing with the huge debt built up to provide various packages of support during the Covid pandemic, giving away a greater road tax exemption concession is the last thing he would want to consider! The comments alongside from Sir Greg Knight MP (chairman of the all-party Parliamentary Historic Vehicles Group) shortly after the launch of the petition in May are clearly code for "don't push your luck!"

Updated: 210610
Posted: 210520

Update
30 year VED exemption has over 12,000 supporters
The campaign behind the petition calling for the rolling 40 year exemption for "Historic" vehicles from vehicle excise duty (VED or road tax) to be reduced to 30 years is reported to have attracted more than 12,000 signatures on a UK Government petitions website.

Government responds to all petitions that get more than 10,000 signatures - so the campaigners are waiting for the response, usually in 7 days. For petitions that reach 100,000 signatures, they will be considered for debate in Parliament. With the present difficulties the Chancellor of the Exchequer faces in dealing with the huge Covid support debt an extention to the VED exemption seems very unlikely.

Over 5,000 enthusiasts have signed a petition calling for the rolling 40 year exemption from vehicle excise duty (VED) to be changed to a rolling 30 year exemption. That change would reach classic cars built in the early 1990s. The aim of the campaign is to lower the the cost for younger enthusiasts keen to own a classic car, particularly cars from the 1980s which are not included in the present 40 year rolling exemption. The campaigners are not seeking to also have a MOT exemption in the call for the 30 year rolling VED exemption. In fact the campaigners say "all cars should undergo a safety check and that MOTs are are important to ensure the vehicles are roadworthy". They add a "change in the road tax exemption for classics to 30 years would be a boost for the retro car market".

However Sir Greg Knight MP (chairman of the all-party Parliamentary Historic Vehicles Group), urged campaigners to reconsider as "any attempt to persuade the Government to change the current VED exemption for Historic vehicles needs to be approached with caution whilst we are still recovering from the Covid pandemic". He adds "the Chancellor of the Exchequer is already facing a Budget shortfall as a result of the heavy costs of the support provided as a result of Covid so asking him now to forgo more revenue form VED receipts is not something that is likely to be welcomed in Whitehall". That's code for don't push your luck!