The 2013 budget has now been announced. Here are some of the key points that will affect you as a motorist:
Fuel Duty – the planned rise has been cancelled, meaning it has now been frozen for three and a half years.
Vehicle Excise Duty – rates will rise for road tax as it used to be known in line with RPI (retail price index). Price rises will be around perhaps 5-10% but you can check it online.
Company Car Tax – there will be two new lower categories to reflect lower emissions from vehicles.
Capital allowances, van benefit charges, car and van fuel benefit charges have also been impacted.
So, do you think the budget has been good for you or is it really a case of whilst fuel hasn’t gone up with duty it has risen in general price? VED almost always rises with RPI so this shouldn’t be too much of a surprise. Overall, it could be worse.
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