According to media reports, owners of older cars are being warned about changes to car taxes that will go into force in the UK next year and might have a big impact on their finances.
Chancellor Rachel Reeves gave Labour’s first Autumn Statement in late October, which included a number of significant changes for drivers in the UK. These adjustments include a sudden halt to the previously announced five penny per litre gasoline duty cut, as well as more financing for road upkeep and pothole repairs.
Additionally, the announcement stated that the government intends to match regular vehicle excise duty (VED) rates for automobiles, vans, and motorcycles with the retail price index beginning April 1, 2025. However, the first-year automobile rates would not be affected by the adjustment.
