VED put into reverse: Chancellor scraps current VED price hike in March 2020 budget
Today’s budget delivered some very welcome news for motorhome buyers – the current price hike for the ‘new’ VED has been scrapped.
The Chancellor, Rishi Sunak, confirmed today that the tax payable on first registration of a new motorhome/campervan will revert to £265 potentially saving thousands for motorhome buyers.
As we shared with you back in September, the tax increase of up to 705% had been levied from 1 September 2019 on newly registered motorhomes fitted with the new generation, greener, more energy efficient engines.
Belinda Crick, sales director at Simpsons Motorhomes, says: “Today’s news is fantastic – the motorhome industry as a whole was not supportive of the huge price hike which was first put forward early last year (2019) and we are relieved to hear today’s news. This will save buyers of new motorhomes thousands of pounds.”
We will updated you as information comes through