Budget quick summary

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Wed 9 Apr 2003 16:06
Budget quick summary - Altea Ego
Fuel
Budget 2003 raises the duty rate for biodiesel by 1.28 pence per litre from 1 October 2003.
Budget 2003 defers the annual revalorisation of the main road fuel duties until 1 October 2003, at which time the duty on ultra-low sulphur petrol and diesel will rise by 1.28 pence per litre.
The Government also intends to exempt hydrogen from fuel duty for a limited period in the future to encourage further development and early take-up.
Budget 2003 freezes the duty on road fuel gases
7.31 Budget 2003 increases the duty on rebated gas oil - red diesel - and fuel oil by one penny per litre above revalorisation from Budget day.
the Government will introduce a duty differential for sulphur-free fuels of half a penny per litre relative to the rates for ultra-low sulphur fuels from 1 September 2004, to bring forward the availability of this fuel. Further details will be announced in due course.

VED
Budget 2003 introduces a new low carbon VED band for cars with carbon dioxide emissions of 100 grammes/kilometre (g/km) or less. Car and van VED rates are revalorised and rounded up to the nearest £5, in line with established practice. These changes will take effect on licences that start on or after 1 May.
Budget 2003 freezes VED rates for motorcycles and lorries.

Company car tax
The Government has decided that the level of emissions qualifying for the minimum charge in 2005-06 will be 5 g/km lower, at 140g/km.
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A guide to how much VED you will need to pay on your car.

Road Tax Bands and Rates

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