Owners of electric cars will soon have to start paying tax for their vehicles.
Electric vehicles will no longer be exempt from vehicle excise duty from April 2025.
Mr Hunt said company car tax rates will remain lower for EVs than traditionally fuelled vehicles, but will increase by one percentage point for three years from 2025.The first-year rate for new vehicles varies according to their carbon emissions, currently ranging from zero for the cleanest models to as much as £2,000 for the most polluting.
“While vehicle excise duty rates are unlikely to be a defining reason for vehicle choice, we believe a first-year zero-VED rate benefit should have been retained as a partial incentive. Ian Plummer, director of automotive classified advertising company Auto Trader, said: “The Chancellor is clearly looking for revenues, but the prospect of additional running costs will drive more would-be buyers away from EVs when other incentives are being scrapped and high energy bills are eroding the advantages of going electric.
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