2014 BUDGET: Road Tax exemption for 40-year-old classic cars

The years of campaigning by the classic car industry, clubs and lobbyists has finally paid off, after UK Chancellor of the Exchequer revealed that classic cars over 40 years old on April 1, 2014, will no longer have to pay Vehicle Excise Duty (VED), commonly known as Road Tax.

The move is not some temporary measure either, as George Osbourne announced it would be a 'rolling scheme' meaning any cars that turn 40 next April will also be exempt from the tax, and so on.

Given that VED in the UK is now partially calculated on vehicle emissions, and that classic cars are comparatively pollutonous, the change in the law will also save owners a fair bit of money over the year - our 1991 Mini has VED charge of £140 per annum - money that could be better spent on parts!

For the full official documents click HERE

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