Classic cars made before 1976 will be exempt from UK road tax from next year, it was announced in today’s budget.
Chancellor George Osborne confirmed that the classic tax break wasn’t a one off, which means the rolling exemption for historic vehicles will continue. That means if you own car that was built in 1975, you won’t have to pay Vehicle Excise Duty providing you change the taxation class of your vehicle, which can be done online or in a tax-issuing Post Office.
‘From 1 April, 2016, a vehicle manufactured before 1 January, 1976, will be exempt from paying VED,’ it was announced in the budget.
This is excellent news for owners of classics not previously eligible for Historic tax status, and sees some BL offerings, such as the 18-22 Princess, rubber bumper MGB and Jaguar XJ-S creep into tax-free territory.
The move also suggests that the tax breaks will continue, with pre-1977 cars next, and a rolling exemption from thereon.