The DVLA has issued a warning to electric vehicle (EV) drivers, as significant changes to vehicle tax regulations are set to take effect on 1 April 2025.
According to tax expert Andy Wood from Tax Natives, many motorists could face an annual tax bill of £600. Andy explained: "Starting in 2025, all-electric vehicles priced over £40,000 will incur a new surcharge, fundamentally altering the current tax structure.
Currently, many EVs benefit from a zero-rated Vehicle Excise Duty (VED), aimed at encouraging greener transport options. However, rising car prices mean a substantial number of models now fall into the luxury tax category, defined by a price exceeding £40,000." He continued: "The new tax framework indicates that any electric or low-emission vehicle registered after 1 April 2025 will incur the lowest first-year rate of vehicle tax, applicable to those with CO2 emissions between 1 and 50 g/km.
After the first payment, these vehicles will transition to a standard annual rate of £190, although this may change in 2025. "The £600 charge results from combining this standard rate with an additional £410 surcharge for vehicles over the £40,000 threshold.
Read more on ok.co.uk
Get the latest stars news and celebrity rumours with exclusive stories, photos, videos and interviews.
Breaking up, scandals, engagements, divorces, gossip – all you need to know about the private lives of your favorite celebs.
Get to know the latest showbiz news along with exclusive interviews and even more. All this is waiting for you on the main page 24 hours a day, 7 days a week! Who, where, when, with whom, how, why and for what!? Stay tuned to know first!
Just follow us daily and we will provide you with the current news from the life of famous stars and celebrities.
Owner: SNOWLAND s.r.o.
Registration certificate 06691200
Address:
Snowland s.r.o.
16200, Na okraji 381/41, Veleslavín, 162 00 Praha 6
Czech Republic
©2024. All rights reserved.