I see these are the changes in the budget that may have an impact on microcar drivers. In summery the way I understand it is anything before 1974 will be tax exempt with a roll on 40 year cut off. No more tax discs and more ethanol to damage our engines and fuel systems. Have I understood this correctly?
2.151 Fuel duty incentives for methanol—
From April 2015, the government will apply a reduced rate of fuel duty to methanol. The rate will be set at 9.32 pence per litre. The size of the duty differential between the main rate and methanol will be maintained until March 2024. The government will review the impact of this incentive alongside the duty incentives for road fuel gases at Budget 2018. (Finance Bill 2015)
2.152 Vehicle Excise Duty (VED) rates and bands—
VED rates for cars, motorcycles and the main rates for vans will increase by RPI from 1 April 2014. (Finance Bill 2014)
2.153 VED: classic vehicle exemption –
The government will introduce a rolling 40 year VED exemption for classic vehicles from 1 April 2014. (Finance Bill 2014 and future Finance Bills) (39)
2.154 VED administrative simplification—
As announced at Autumn Statement 2013, the government will introduce legislation to reduce tax administration costs and burdens by making the following changes with effect from 1 October 2014:
— motorists will be able to pay their VED by direct debit annually, biannually or monthly, should they wish to do so. A 5% surcharge will apply to biannual and monthly payments (Finance Bill 2014) (c)
— a paper tax disc will no longer be issued and required to be displayed on a vehicle windscreen (Finance Bill 2014)