Chancellors 2013 Autumn Statement

This morning the Chancellor of the Exchequer presented his 2013 Autumn Statement (AS13) to Parliament. I attach a link to the Treasury website where you can download both the AS13 report and the Chancellor’s statement.

 Paragraph 2.94 of the Autumn Statement report announced the following:

2.94 Vehicle Excise Duty (VED) – The government will introduce legislation to reduce tax administration costs and burdens by making the following changes with effect from 1 October 2014

• motorists will be able to pay their VED by direct debit annually, biannually or monthly, should they wish to do so. A 5% surcharge will apply to biannual and monthly payments(Finance Bill 2014)

• a paper tax disc will no longer be issued and required to be displayed on a vehicle windscreen (Finance Bill 2014)