Fuel duty has been frozen again, marking the longest period without a rate rise in 40 years – but the outlook isn’t so rosy if you use diesel. Unless you're driving a diesel van, that is...
As predicted, Philip Hammond’s 2017 Budget announced penalties for diesel drivers.
This April, new diesel cars that don’t meet the latest emission standards will face a one-band increase in the first-band vehicle excise duty rate.
Vehicle excise duty (VED) is calculated based on a vehicle's CO2 emissions, and for the first 12 months it ranges from zero up to £2,000.
On top of this, the existing diesel supplement in company car tax will be going up by one per cent.
Importantly, the Chancellor made it clear that vans would be exempt from the current hikes in VED and company car tax.
“And we only apply the measures to cars,” he said during his address to Commons, “So before the headline writers start limbering up let me be quite clear: no white van man or woman will be hit by these measures.”
While the change to fuel duty will likely have the biggest immediate impact on tradespeople, there are some other parts of the 2017 Budget that you should be aware of:
How will this year’s Budget impact you? Let us know in the comments.
We create this content for general information purposes and it should not be taken as advice. Always take professional advice. Read our full disclaimer
6th Floor99 Gresham StreetLondonEC2V 7NG
Sol House29 St Katherine's StreetNorthamptonNN1 2QZ
© Copyright 2021 Simply Business. All Rights Reserved. Simply Business is a trading name of Xbridge Limited which is authorised and regulated by the Financial Conduct Authority (Financial Services Registration No: 313348). Xbridge Limited (No: 3967717) has its registered office at 6th Floor, 99 Gresham Street, London, EC2V 7NG.