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A classic car tax loophole which cuts costs for owners of older vehicles could be under threat after a warning from Wheeler Dealers host Mike Brewer.
The rolling historic tax exemption rule completely axes Vehicle Excise Duty (VED) fees for owners of vehicles older than 40 years.
It means those with cars manufactured before 1984 can currently dodge costly VED fees, saving some road users hundreds of pounds per year.
However, Wheeler Dealers host Mike Brewer has fears the scheme could come to an end with the concept now acting as a major loophole to avoid fees.
Previously speaking to Express.co.uk, Mike explained: “Give it a couple of years and they will close that loophole as well.
“I fought for rolling tax exemption on classic cars. Elvis (Marc Priestley) is now fortunate enough to stand up in front of a group of MPs and give them some of our passions.
“I fought for rolling tax exemption and it did happen. I know that somewhere in the halls of Westminster. It’s ridiculous isn’t it, how can you stop me driving into town in a 2013 Mini Cooper and charge me high road tax.”
Motorists can now have their say on whether they believe Mike’s concerns that the vital rule could be axed sooner rather than later.
Historic tax exemption rules also apply to Clean Air Zones such as London’s ULEZ which has presented an opportunity for residents to save amid the cost of living crisis.
Owning a classic car that’s 40 years old is now a chance to save hefty fees with historic car ownership soaring since UYKLEZ was expanded.
Merlin McCormack from classic car dealership, Duke of London, has recently warned there had been a surge in interest for classic vehicles which can be used as “daily drivers”.
He reiterated there had been a “massive spike” in customers searching for cars built before the early 1980s to comply with the rules.
A recent petition called for the Government to cut the historic vehicle exemption from 40 years to 20.
The poll has so far received over 13,000 signatures meaning it has passed the threshold for an official Government response.
Responding, the Treasury admitted there was no interest in reducing the exemption but seemed to suggest the 40-year rule was here to stay.
They explained: “The Government has no plans to reduce the tax exemption age for classic cars from 40 to 20 years.
“While the Government keeps all taxes under review, we consider 40 years a fair cut-off date.”
Wheeler Dealers World Tour will be available on Discovery Channel and discovery+, airing weekly on Mondays at 9pm from 29th April.
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