Another Problem on the Horizon/Vehicle Resale Values
Another Problem on the Horizon
It seems that the Exchequer has been losing lots of revenue from the motorist amounting in recent times to some £14 billion. Guess what, they are looking again at the Road Fund Licence (Tax Disc) and one of the things under consideration is removing the exemption from having to pay for pre 1973 (Historic) vehicles. If that happens all of us using historic vehicles will probably end up paying the top rate of tax currently for vehicles over 1549cc of £220pa. If you happen to own one of less than that (very doubtful) the cost will be £135pa. If you have seven cars like me the cost will be a staggering £1540 per year. In times of a major recession how on earth are we to recover such a huge hit on our meagre profit margins. I know one of our members who has in excess of 100 cars, his hit will be well over £22,000 – ouch! In fact a very big OUCH!!
It seems we will all have to get a very quick missive off to all our MPs and the Chancellor of the Exchequer and hope they might have some influence.
Classic Car Weekly published an article on Road Tax recently.
Vehicle resale values
Many people poohoo’d our article on vehicle values being depreciated. Well an interesting piece has appeared in Classic Car Weekly which contained a quote from Rob George of Anglia Car Auctions after seeing post-1960 Rolls-Royce prices on the way down. He said “A lot of this can be put down to unease about potential changes to the rules concerning the use of wedding cars, …..”
Once again Classic Car Weekly published an article
We will have to double our efforts to kill Clause 42 once it reaches the Minister in charge of the proposed Bill. To do that we need to show we are a unified industry which means we need the majority of the industry to become members of the NAWCP. We need you all. Get all your friends and enemies in the industry to join.