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Home > General > Retrospective VED to be imposed |
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Tim in Scotland Member Since: 30 May 2005 Location: Driving along in my automobile Posts: 17476 |
Over on D3 there is a loooooooooooong thread about something that we are all going to be clobbered by that wasn't even mentioned in the Chancellor's Budget speech. The new VED bands will be applied retrospectively on all cars 1st registered after April 6th 2001...................................
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Sat Mar 15 2008 9:59pm |
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PauloAmore Member Since: 27 Jan 2007 Location: Bonnie Scotland Posts: 1292 |
I've often thought that it was a strange loophole. My SC getting taxed low becuase it is an October 05 car....
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Sun Mar 16 2008 5:08am |
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ayates Member Since: 08 Jun 2007 Location: Houston Texas Posts: 369 |
, so glad I moved to the US.... land of the Gas guzzler and proud of it.... labour party robbers Brit across the Pond
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Sun Mar 16 2008 5:15am |
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Kaine Member Since: 26 May 2006 Location: Hills of Shropshire Posts: 8902 |
I have a serious question
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Sun Mar 16 2008 8:39am |
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Kaine Member Since: 26 May 2006 Location: Hills of Shropshire Posts: 8902 |
ok, answering my own question here
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Sun Mar 16 2008 8:49am |
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Smarticus Member Since: 26 May 2005 Location: Northumberland Posts: 939 |
Changing VED rates isn't retrospective (or retroactive for that matter) any more than changing income tax rates or domestic property rates is. It simply means what you earn, own or do in future gets taxed at a higher rate than it did last year. I can see how it feels like a decision you made in the past (to buy a car which is now in a higher VED bracket) feels like the cause of a higher tax payment in future, but surely that is the same as tax increases on what house you bought or even job you took in previous years. A truly retrospective tax is one that makes you owe HMR&C more tax today for a transaction that took place in the past. Rarely happens.
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Sun Mar 16 2008 9:03am |
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Tim in Scotland Member Since: 30 May 2005 Location: Driving along in my automobile Posts: 17476 |
Thanks for the consideration Smarticus, but I think that if folks delved into my tax status they wouldn't have very much sympathy! How else do you think I can afford to run 2 SUV's on a bowl of rice a month. 2020 Pangea Green 1st Edition D240 New Defender 110 is here and loving it
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Sun Mar 16 2008 9:12am |
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ViewWise Member Since: 13 Mar 2008 Location: London Posts: 704 |
can i have one of those bowls? |
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Sun Mar 16 2008 12:43pm |
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