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Moneyextra.com Dictionary
Car Tax
Car tax formally known as Vehicle Excise Duty VED is a tax on motorists.
For vehicles registered before March 2001 it is £180 a year for private vehicles light vans cars taxis etc.. A reduced rate is payable for cars with a smaller engine size. Vehicles with an engine smaller than 1549cc pay only £115 a year.
The tax payable on vehicles registered after March 2001 is based on a seven-band scale linked to carbon dioxide emissions.
The DVLAs Rates of Vehicle Excise Duty shows the range of rates payable. The Vehicle Certification Agency has a calculator that will allow you to work out which band your vehicle falls into. In Budget 2007 all car VED rates for petrol were aligned up to the level for diesel. The graduated VED rate for band A cars emitting less than 100gkm CO2 remains frozen at £0. ©Moneyextra.com Moneyextra.com recommends you take independent financial advice before acting on any article 2009-02-17 00:00:00 © Moneyextra.com