One in four motorists have struggled to afford the cost of driving in the past month, according to comparethemarket.com. The research, based on a national poll of 2,000 motorists, found one in three drivers (33%) is worried that they won't be able to cover the cost of driving in the coming weeks. Driving has become increasingly unaffordable, as 84% of motorists have spent more on fuel in the … [Read more...]
Budget points
With just hours to go until the Chancellor’s Spring Statement, eight-in-10 drivers (83%) want him to step in to help reduce the impact of record-high pump prices with a cut in duty or a reduction in VAT levied on fuel, shows new RAC research among 2,000 drivers shows. The study suggests drivers are increasingly worried about the impact of high prices with averages hitting new records most days … [Read more...]
Budget needs to tackle help for car sector and buyers
Changes to VAT around compensation payments, strategic support for the UK motor industry, and the future of road charging are key subjects that should be tackled by the Chancellor in March’s Budget, says the Vehicle Remarketing Association. All three issues are likely to impact on the remarketing sector either in the short, medium or longer-term, believes the industry organisation, and its … [Read more...]
Car trade shake up from 1 January
Car trades between Wales, England and Scotland to Northern Ireland face a shake up at the end of December. The issue arises from the status of VAT margin schemes for goods moved between GB and NI from 1 January 2021. This will apply regardless of whether there is a free trade deal agreed between now and December 31. Margin schemes enable traders of used goods, such as vehicles, to pay VAT based … [Read more...]
UK Government make fuel costs among highest in world
UK drivers are paying significantly more for petrol and diesel than other countries in Europe and further afield. Used car supermarket, CarShop, has researched the cost of petrol and diesel for UK drivers, and compared it against other countries to see just how much more we are paying per litre and why. Shockingly, the UK is one of the 10 most expensive countries in the world for diesel, with UK … [Read more...]
What Brexit means to Welsh automotive businesses
Welsh Government and the Welsh Automotive Forum have been looking at the implications of a no-deal Brexit and produced guidance notes for businesses. UK import tariffs in a no-deal scenario - The Government has published details of the UK’s temporary tariff regime for no deal. The regime would be temporary, and the Government would closely monitor the effects of the tariffs on the UK … [Read more...]
Severn Bridge tolls to be cut
The Severn Bridges tolls will be cut in January for the first time, as VAT is removed. Cars heading for Wales will be charged £5.60 instead of £6.70, with vans paying £11.20 - down from £13.40 - and coaches £16.70, currently £20. UK ministers confirmed it was a step towards abolishing tolls by the end of 2018 revealed in July and their end will save the average user about £1,400 … [Read more...]
Come clean on fuel revenue, Government told
The RAC is this morning renewing its call for the amount of money generated by fuel duty at each forecourt fill-up to be clearly shown on receipts. It's throwing its weight behind the Vehicle Fuel (Publication of Tax Information) Bill being introduced today by Peter Aldous MP. The changes outlined in the bill, which is promoted by FairFuelUK, would enable motorists to see just … [Read more...]