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 UK: Road Tax Hike Makes Family Cars Worthless

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UK: Road Tax Hike Makes Family Cars Worthless Vide
PostSubject: UK: Road Tax Hike Makes Family Cars Worthless   UK: Road Tax Hike Makes Family Cars Worthless Icon_minitimeFri May 02, 2008 5:13 am
Tens of thousands of cars will become almost worthless as a result of the decision to raise road tax on older models with higher carbon dioxide emissions by up to £245 a year.

Many families will find that they cannot sell their cars even though they are in good working order and no more than seven years old.

The Times revealed yesterday that the Treasury had quietly abolished the exemption from higher road-tax rates for cars that emit more than 225g of CO2 per km and were registered between March 2001 and March 2006.

CAP, which supplies the used car industry with data on residual values, said that many larger cars would be reduced to their scrap value because they would fall into one of the higher tax brackets being introduced for high-emission cars next April.

http://driving.timesonline.co.uk/tol/life_and_style/driving/article3850617.ece
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