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What happens to premium rate VED once my car is six years old?
I bought and taxed my car in Jan 2024. It was first registered in May 2019, and had a list price above £40k so for 2024 I paid the additonal tax rate.
Since the car will be 6 years old in May 2025 can I tax my car for 6 months in Jan 2025 and pay 1/2 a years additional tax rate. What would i be paying for the 2nd 6 months? Would i still pay the additional tax rate even though the car is over 6 years old, or do i still pay the additional rate for the rest of the year? How does it work?
Since the car will be 6 years old in May 2025 can I tax my car for 6 months in Jan 2025 and pay 1/2 a years additional tax rate. What would i be paying for the 2nd 6 months? Would i still pay the additional tax rate even though the car is over 6 years old, or do i still pay the additional rate for the rest of the year? How does it work?
Asked on 13 September 2024 by Sh
Answered by
David Ross
When you car turns six years old the premium rate of VED will no longer apply, so if you have paid the premium rate for any months beyond the car's sixth birthday this money will be refunded to you, but you may wish to minimise this amount by paying for six months in January 2025.
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