As title. Additional tax on vehicles over 40k when new.
The information is a little confusing for me as to when exactly the additional tax stops.
Is it when the vehicle is 5 years old or 6 years old?
If a vehicle is registered in April and would be 5 years old then (or 6 depending on the above answer) but you are taxing it in January, would you pay the full year additional tax or would it automatically calculate just to pay the increase until it is of age?
Anybody know?
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Additional car tax
- Nictrix
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Additional car tax
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- Swiftly
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Additional car tax
Good point, from what I understandNictrix wrote: ↑Sun Jan 22, 2023 4:18 pm As title. Additional tax on vehicles over 40k when new.
The information is a little confusing for me as to when exactly the additional tax stops.
Is it when the vehicle is 5 years old or 6 years old?
If a vehicle is registered in April and would be 5 years old then (or 6 depending on the above answer) but you are taxing it in January, would you pay the full year additional tax or would it automatically calculate just to pay the increase until it is of age?
Anybody know?
- Swiftly
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Additional car tax
My understanding is for cars above £40,000, you’ll pay an additional £355 for the next five years from the second time the vehicle is taxed. After six years from the date of the first registration, you’ll pay the standard annual rate.Nictrix wrote: ↑Sun Jan 22, 2023 4:18 pm As title. Additional tax on vehicles over 40k when new.
The information is a little confusing for me as to when exactly the additional tax stops.
Is it when the vehicle is 5 years old or 6 years old?
If a vehicle is registered in April and would be 5 years old then (or 6 depending on the above answer) but you are taxing it in January, would you pay the full year additional tax or would it automatically calculate just to pay the increase until it is of age?
Anybody know?
- Nictrix
- Lifer
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Additional car tax
Thanks, so a car registered in April 2018 pays the extra tax until March 2024 then?Swiftly wrote: ↑Sun Jan 22, 2023 4:26 pmMy understanding is for cars above £40,000, you’ll pay an additional £355 for the next five years from the second time the vehicle is taxed. After six years from the date of the first registration, you’ll pay the standard annual rate.Nictrix wrote: ↑Sun Jan 22, 2023 4:18 pm As title. Additional tax on vehicles over 40k when new.
The information is a little confusing for me as to when exactly the additional tax stops.
Is it when the vehicle is 5 years old or 6 years old?
If a vehicle is registered in April and would be 5 years old then (or 6 depending on the above answer) but you are taxing it in January, would you pay the full year additional tax or would it automatically calculate just to pay the increase until it is of age?
Anybody know?
The other question seems to be more difficult to find an answer for.
Wondering if the tax systems works it out for you automatically or if 6 months tax would be a better idea to go over the threshold and then 12 months from then on. No point giving the government money needlessly.
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Onlinehopz121
- Lifer
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Additional car tax
It’s for years 2-6 so 5 years in total after the first year is paid via the new car buying process.
The exact date it expires is on the front of the V5C as well
The exact date it expires is on the front of the V5C as well
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- Lifer
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Additional car tax
The AA website states,
After the first year, owners of cars that cost more than £40,000 have to pay an additional annual supplement of £355 for five years – adding up to £1,775 in total.
Not sure that helps or is it me?
After the first year, owners of cars that cost more than £40,000 have to pay an additional annual supplement of £355 for five years – adding up to £1,775 in total.
Not sure that helps or is it me?
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- Nictrix
- Lifer
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Additional car tax
It all helps. What isnt exactly clear is if the vehicle is still a few months off passing the 6 year mark for additional tax, what happens?
Do you need to pay the higher tax for 6 months or a year even if there is only 2 months or so till the vehicle hits 6 years old?
Do you need to pay the higher tax for 6 months or a year even if there is only 2 months or so till the vehicle hits 6 years old?
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- Lifer
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Additional car tax
I would like to think you only pay the higher rate until the car is 6 yrs old then the lower rate afterwards.
I pay monthly so hopefully the direct debit will reduce. If you pay annually then you should get a refund but who knows?
I pay monthly so hopefully the direct debit will reduce. If you pay annually then you should get a refund but who knows?
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Additional car tax
Ii would pay the few months via direct debit and then go pay 12 months but I would hope you get a refund if you pay in full at the start
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