33 replies to this topic

[Mito]

 

Not every classic owner is wealthy.I have five classics that were scrap and rebuilt them myself and have owned them for between twenty and forty years.I retired five years ago and have a very modest pension and not yet eligible for state pension.I am paying a levy for non power bill payers and would not be able to pay for road licence.Of course it is probably my fault for not working harder,smarter,retiring,not getting another job etc.
Beware of assuming the circumstances of others,Steve..

And yet you own five classic cars which will have a not inconsiderable value even if they are only worth £1,000 each, try explaining that you need a tax break so you can afford to run them to someone relying on food banks to feed their kids or struggling to pay their energy bill.

 

The point i'm making is that we are very lucky to have any kind of tax break for our hobby and people making a load of noise about it so their MK1 Mondeo or similar doesn't have to pay will probably backfire on the rest of us.

 

Not that I disagree with the sentiment, but let's not forget though that the non-dom tax issue has been allowed to rumble on for years, the spring budget included a reduction in capital gains to 24%, and multi millionaires + billionaires are paying effective rates of tax equivalent to someone earning between 20 & 40k/year. 

 

Tax breaks appear to come easily for the rich and not for anyone else - the 2% cut in NI being nothing more than a distraction.

 

Still, I agree that we shouldn't draw too much attention to it as they are more likely to stop it again than reduce it.

[mab01uk]

HMRC - Vehicle Excise Duty: 40 year rolling exemption for classic vehicles.

Policy objective:-

"The VED 'Historic vehicle' tax exemption is intended to support classic vehicles, which the Government considers are an important part of the nation’s historical heritage. According to research by the Historic Vehicle Research Institute and the Federation of British Historic Vehicles Clubs, in their publication 'The British Historic Vehicle Movement' : A £4 Billion Hobby, the historic car industry employs about 28,000 people in the UK.

Economic impact:  The measure is not expected to have any significant economic impacts.

More details here:-
https://assets.publi...c_vehicles_.pdf

 

 

[Ethel]

As I recall it was originally sold on being unfair to tax classics that will only get occasional use.

 

If we do end up with pay per mile because leccy cars won't pay fuel duty that argument disappears - but classics will pay fuel duty & it'd be far easier to collect that than kit 'em out for pay per mile.

 

Petrol prices will likely increase, through supply & demand, so they'll get more off us in VAT anyway.

 

Another option could be an insurance levy - let insurers divvy out the road charges via the cover they provide. 

[Lowestoftmodder]

We are all going through the biggest squeeze on living standards in living memory. Britain is now the hardest place to get a home/house in the entire DEVELOPED world. Google it..
We are arguing over crumbs that “trickle down” to us from our overlords.

If the people at the top didn’t over reward themselves at the detriment of the real labour the 99% give to the economy then perhaps we would be in a fair position to ask for exemptions etc

Currently gas and electric companies are raking in absolutely obscene profits whilst our economy stagnates, our nhs collapses and our living standards decline. The wealth divide in the uk is back to Victorian era comparisons

Right now I’d like to see the people at the absolute top pay a fair share in taxes and we invest that money into public services etc

I can’t get behind a reduction in vehicle tax exemption age criteria whilst the people at the top extract the urine out of us by reducing our NI to 8% that will do little for the common man other than speed up the destruction of our health services etc and give themselves billions in tax breaks

Its just not the time right now