Drivers warned over car tax price hike as VED rates rise - how much will you pay?
dailyrecord.co.ukDrivers are being warned Vehicle Excise Duty (VED), also know as road car tax, which will will rise in price for the majority of motorists.
Car tax increased from April 1 a many people now face paying more to be on the road as cost of living prices rise.On top of the energy cap going up by 54 per cent, council tax increases, high fuel prices and National Insurance rates rising, drivers will also have to pay for car tax.VED is calculated using the vehicle’s age and CO2 emissions, with bigger, older engines usually producing more CO2, resulting in higher costs.
The duty has gone up in line with the Retail Price Index measure of inflation, but people with more environmentally friendly vehicles will see smaller rises.
Drivers with higher levels of emissions will see the same increase in the standard rate, but will pay a higher first year rate which increases in increments parallel with emissions.
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