Drivers have been issued a warning as tax rates for fuel run cars have increased.
Motorists will see the amount of vehicle tax they pay increase this financial year after changes came into force on Saturday, April 1. Those with cars registered between March 2001 and April 2017 will have an even higher rate.
As part of Spring budget 2023, Vehicle Excise Duty (VED) will increase by 10.1 per cent in line with the Retail Price Index (RPI) from April 1. While rates can vary, petrol and diesel drivers' standard rate of car tax will increase from £165 to £180.
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Starting from 52 to 75 CO2 band, drivers will be required to pay £30, an increase of £5 from £25. On the other end of the spectrum, owners of vehicles within the most polluting group - 255 CO2- will see tax increase by £240 to £2,605 per year.
However, as the Express reports, it will be even higher for who own petrol and diesel cars registered between March 2001 and April 2017. They will see their payments increase to £695 per year- or £729.75 if paid in instalments across 12 months.
During the last financial year, drivers of these vehicles paid £630 in tax for the year if paid in one lump sum or £661.50 through 12 monthly instalments.
Speaking to the Express, Richard Evans, head of technical services at Webuyanycar, said: “The rise in Vehicle Excise Duty from April 1 will mean drivers face even higher motoring costs during an already expensive time.
"Our research shows that nine in 10 (92 percent) drivers have seen motoring costs increase over the last 12 months.
"Whilst VED is calculated by the amount of emissions and engine size, the year the vehicle was registered can also have an impact on price. Drivers need to be aware of how much they should be paying and when they need to pay it as it is a legal requirement."
Richard Evans continued: “EVs and cars producing less than 100g of CO2 per kilometre don’t have to pay tax however, drivers still need to register the vehicle as taxed. Even if you think your car is exempt, you should still check the tax status online to avoid receiving any fines.”
Anyone unsure of their tax rate can use their vehicle details to find out the cost and increases online here.
Failing to tax a vehicle on time or knowingly driving an untaxed vehicle can result in a hefty fine as well as voiding insurance.
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