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Classic Car Road Tax Exemption Extended to 1974

Published: Thursday 21st of March 2013 | Author: Scott | Category: Industry News

If you own a classic car then we might have some good news from yesterdays Budget. From 2014, the exemption from Road Tax is being extended to 1974. The means that for all cars manufactured in 1973 will now qualify for the exemption.

The extension to 1974 was announced by George Osborne (The Chancellor of The Exchequer) yesterday during his Budget speech. The great news for classic car owners is that cars such as the earliest MGB GT V8s and Austin Allegros are now considered 'Tax-free'.

The new cut-off date for classic vehicles will take effect from 1 April 2014, and covers all cars manufactured before 1 January 1974. Although it's not been announced that there will be a return to the pre-1997 rolling exemption, but as this comes into effect at the 40-year point, it's a good chance that this looks to be the case.

Also in the budget, it was announced that Statutory Off-road Notifications will no longer need to be renewed on an annual basis. It was confirmed that the Finance Bill 2013 contains this statement: 'The Government will put off-the-road declarations onto an indefinite basis. The Government will also extend the grace period to 14 days, following the payment of Tax, on the non-display of the tax disc in a vehicle.'

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