Please note there has been significant legislation changes to Vehicle Excise Duty (VED) which will affect all vehicles registered 1st April 2017 onwards. What you need to know in five points.Tap here to read more
VED changes and how they affect you
  1. First Year Rates (FYRs) of VED will vary according to the carbon dioxide (CO2) emmisions of all vehicles ranging from £0 for zero-emmision right the way up to £2000 for cars with CO2 over 255g/km.
  2. Subsequent years a flat standard rate (SR) of £140 will apply in all subsequent years, except for zero-emissions cars for which the standard rate (SR) will remain £0.
  3. Cars with a list price above £40,000 will attract a supplement of £310 on the standard rate (SR) after the first 12 months for the next 5 years.
  4. After 5 years the added £310 supplement will no longer be paid, reverting back to the standard rate (SR).
  5. All cars registered before 1st April 2017 will remain in the the current VED system, which will not change.
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VED Change

How to calculate the new RFL changes

As of 2017, the new rules for VED (Vehicle Excise Duty) or 'road tax' will come into effect. This means the road tax bands will have an affect on anyone who leases a car from April 2017 onwards. The tables below provide the current figures (as of 31st March 2017) and the new bands that will follow these.  

Current Scheme up until 31st March 2017

VED Scheme upto 31st march 2017

For example a car with 169 g/km co2 on a 3 year contract will be

  •    First Year Rate              £300
  •    Second Year RFL            £210
  •    Third Year RFL               £210
  •    TOTAL                         £720

 


 New Scheme from 1st April 2017

VED Scheme from 1st April 2017

 The same car with 169 g/km co2 on a 3 year contract will be

  •    First Year Rate           £500
  •    Second Year RFL        £140
  •    Third Year RFL           £140
  •    TOTAL                     £780

 

In Addition

Any car with a list price £40,000 and over will incur an additional £310 on top of the Standard Rate for every year after the first year

 

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Select Car Leasing is a trading style of Select Contracts (UK) Limited and the firm is authorised and regulated by the Financial Conduct Authority FRN 670832. Select Car Leasing are a credit broker not a lender. VAT Registration No 181 8746 74. ICO Registration ZA076253. Company Number 06569098. Select Car Leasing are proud to be a member of the British Vehicle Rental and Leasing Association (BVRLA) No 1846. Registered address: Atlantic House, Imperial Way, Reading, Berkshire, RG2 0TD


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Select Car Leasing is a trading style of Select Contracts (UK) Limited and the firm is authorised and regulated by the Financial Conduct Authority FRN 670832. Select Car Leasing are a credit broker and not a lender. VAT Registration No 181 874674. ICO Registration ZA076253. Company Number 06569098. Select Car Leasing are proud to be a member of the British Vehicle Rental and Leasing Association (BVRLA), No 1846. Registered address: Atlantic House, Imperial Way, Reading, Berkshire, RG2 0TD

© Copyright 2017 Select Contracts UK Limited. All Rights Reserved.

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