9:16 am, November 25, 2008
CHANCELLOR Alistair Darling delivered a dramatic pre-budget report to the House of Commons on Tuesday.
But how will it affect car dealers?
Here, we’ve summarised the key points, and included links to the stories if you want to read more detail.
MAIN POINTS
• VAT duty cut to 15 per cent
• Fuel duty rise by 2p per litre from 1 December 2008, and a further 1.84p per litre in April 2009.
• Road tax VED overhaul goes ahead in 2009, but with maximum increases of £5. In 2010, increases will be capped to £30.
• Road tax for cars registered between March 2001-March 2006, emitting over 225g/km of CO2, capped to £215 in 2009, and £245 in 2010.
• New car showroom tax will go ahead as planned in April 2009.
• £1bn Small Business Finance Scheme introduced.
• Tax relief for businesses with empty properties.
• 0.5 per cent National Insurance increase in 2011, for those earning more than £20,000.
