Tax Exemption for classic cars after the Autumn Budget...

[Neil]

I am hearing rumours tax exemption for classic cars, the current rolling 40 year exemption may be scrapped in the autumn budget to raise funds from us the motorist.. tax grab? 
(Discuss)

[Parisien]

More scare mongering from the media, can see them stopping the rolling aspect, but yet another vote loosing policy for any political group

P

[lancialulu]

If the treasury have done their sum (no I hear you say) this will raise diddly squat and cost a lot in administrative changes (40 year rule impacts a lot of things....

[Neil]

On the grand scale it would be drop in the ocean I agree, lets hope it is just scare mongering!

[SanRemo78]

All the reports I've seen have calculated the amount of revenue to be gained and it's not a sum that's going to plug the gap in finances. And what they nearly all seem to miss is that the revenue is way overstated as most owners will merely SORN their cars for Winter so revenues are likely to be half of the total expected (or less) and costs of administration for refunding tax if a whole year was paid for...

Not that this might put a road tax tax grab off the table....

[neil-yaj396]

DfT normally consult with the representative body, whose name escapes me for now, to be fair on any proposed changes affecting the classic car community. Only recent changes announced are relaxations around allowing 'Restomod' type cars being able retain their historic status.