£17. Insurance will hurt though.
Car tax robbery by government
- Thread starter K182
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£17. Insurance will hurt though.
Welcome to wonders of VED tax !
EV drivers have zero emissions, yet pay £195 VED a year, and people running older dirty diesels are paying just £20 a year.
The EV VED tax was back dated to include for all EV's, yet this doesn't happen for previously registered petrol & diesel cars, they continue paying what they always have !
As an EV driver I'm completely happy contributing to the wider good of the system, but make it consistent. Older dirty diesels should be priced off the road, but that doesn't happen because the people with them are 'too poor' to replace them. My view - tough, walk or ride a bike then !
It's either about improving the environment or it isn't.
And then the economy collapses because people can't afford to get work anymore.
I'm not worried, it's still less than my old Mazda3 Sport was a decade ago. I'm just highlighting the inconsistency of upping the tax on EVs, only to then have to offer incentives a different way.
Except almost everywhere has a capital gains tax equivalent and it’s really not that easy to swerve U.K. capital gains tax, particularly if the asset is deemed to be U.K. held which it will be if used U.K. money to make the original investment, if you were UK resident at the time and you used U.K. money, good luck with that.
If you want to offshore an asset you already have, you have to pay exit charges in the form of… capital gains tax…
People who talk about loopholes simply don’t have a clue about what the rules actually are and yet they post so confidently about stuff they got from Dave down the pub.
P.s. moving abroad for 6 months isn’t exactly cheap either.
There are a few places you can get it out tax free. Ecudor is one afaik. Some places it's still totally un-regulated. BC isn't easily tracable, that's one of the big points of it.
If you have a few million, or even a few 100k. 6 months abroad is nothing.
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Except it isn’t because when you are caught trying to evade U.K. taxes on an offshore issue, you’ll get penalties up to 200% of the tax due as well as having to cough up the tax.
Oh and all the major crypto exchanges share information with your local friendly tax authority so it’s a lot more traceable than you seem to think it is. Small details and all that.
It’s almost like it’s not as easy as you make out.
Likewise, moving to a cartel country as a rich crypto bro westerner seems like a sensible idea also, yeh or not. To contrast Ecuador with the with, the UK homicide rate is around 10 per million population. Ecuador is 40 per 100,000, so 40 times the UK.
Did you just chatGPT which countries don’t have capital gains tax to try and prove a point without thinking about it at all?
Oh and all the major crypto exchanges share information with your local friendly tax authority so it’s a lot more traceable than you seem to think it is. Small details and all that.
It’s almost like it’s not as easy as you make out.
Likewise, moving to a cartel country as a rich crypto bro westerner seems like a sensible idea also, yeh or not. To contrast Ecuador with the with, the UK homicide rate is around 10 per million population. Ecuador is 40 per 100,000, so 40 times the UK.
Did you just chatGPT which countries don’t have capital gains tax to try and prove a point without thinking about it at all?
Wrong, I have a 996TT and it is.
Meanwhile in the UK it's £220 a year to tax an RX7, at least some things are better under our government
Caporegime
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People in this country don't realise our cheap our cars, both in cost and also in running them are compared to a lot of other countries (oil states excluded).
Our used car market is cheaper than most, a lot of us have "free" parking at home or on the street. At most you pay for an annual permit.
My friend in HK has to pay for a parking space at the car park under her building at the cost of £200 per month, for a bike. There is no other way round if you want a vehicle and the tax when you buy the car? 100%. A £10k car will cost you another £10k in tax on top.
Or Singapore....you need to bid for a licence to be even able to get a car and they are like 6 figures.
I count my £400+ a year in car tax cheap compared to them.
Our used car market is cheaper than most, a lot of us have "free" parking at home or on the street. At most you pay for an annual permit.
My friend in HK has to pay for a parking space at the car park under her building at the cost of £200 per month, for a bike. There is no other way round if you want a vehicle and the tax when you buy the car? 100%. A £10k car will cost you another £10k in tax on top.
Or Singapore....you need to bid for a licence to be even able to get a car and they are like 6 figures.
I count my £400+ a year in car tax cheap compared to them.
I'd imagine that's because the UK classes a 13B clue in the name, as a 1.3L, despite the 'if it was a piston engine it'd be equal to a 2.6L' factorMeanwhile in the UK it's £220 a year to tax an RX7, at least some things are better under our government
I remember it being cheaper 14 years ago to insure a manual FD3S Twin Turbo RX7 JDM import than insure a E36 318iS - due to more 318iS' being stolen/crashed/driven by young chavs, versus the rarity of a JDM manual TT rex FD3S, my mates UKDM E46 M3 3.2L manual was also cheaper than the E36 318iS - I'd imagine because it was still expensive to insure 'for what it was' so not many bothered/crashed/nicked them 'at the time', but the Rex was cheaper than both despite being an import lol.
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That's because some importers and dealers sneakily registered them as 1.3L so the tax would be cheaper. They never should've done that, but some did and got away with it. The argument with the 13B was that its volumetric efficiency was equivalent to a 2.6L traditional ICE.I'd imagine that's because the UK classes a 13B clue in the name, as a 1.3L, despite the 'if it was a piston engine it'd be equal to a 2.6L' factor
I remember it being cheaper 14 years ago to insure a manual FD3S Twin Turbo RX7 JDM import than insure a E36 318iS - due to more 318iS' being stolen/crashed/driven by young chavs, versus the rarity of a JDM manual TT rex FD3S, my mates UKDM E46 M3 3.2L manual was also cheaper than the E36 318iS - I'd imagine because it was still expensive to insure 'for what it was' so not many bothered/crashed/nicked them 'at the time', but the Rex was cheaper than both despite being an import lol.
Insuring an FD was outrageously cheap back when I had one. Not sure that's the case now as they are pretty much a 40-50k+ classic for some really nice examples nowadays. I had a JDM import '98 Type RS with 20k on the clock. I paid £5700 for it!! Spent more time under the bonnet than driving the bloody thing...
Sadly, it was also registered as a 2.6 and I had to suck up that extra tax.
Imports are still being registered like that. My FD was in 2020, and is obviously cheaper to tax as a result. While being able to be insured on classic policies so mines roughly £600 a year to insure, so considering how special it is, not too bad!
Meanwhile in the UK it's £220 a year to tax an RX7, at least some things are better under our government
But still not as good as they were :/
Not all of them do, depends where they are based.
I know someone who invested heavily in bitcoin and already knows how he is going to withdraw the millions. Being a dual national probably helps confuse matters though.
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Which is why I said ‘all the major’, ergo not all exchanges but all the ones that matter operate in a regulated market.
Being a dual national has little impact on U.K. taxes as it’s based on your residency (now). However as mentioned previously of can off shore yourself but your investment will still be in scope of U.K. taxes if it was deemed to be made in the U.K. like I said you can’t just circumnavigate UK taxes by taking a train to Monaco and hanging out there for 6 months.
As ever when anyone’s cites ‘my mate down the pub’ it’s because they don’t actually know.
Anyway we are WAAAAAY off topic. Back to car tax. £200 what a scam rabble rabble rabble.
Just wait until they transition fuel duty onto VED, well that’s my prediction of what will happen post 2030. It’s the only realistic way they are going to be able to substitute the revenue and have a realistic prospect of collecting what is actually due without re-inventing the wheel and putting in place a loads of burdensome administrative processes.
It will add another £300-£400 onto the typical VED based on current fuel duty rates.
Milage based taxes and taxes on charging are just too easy to circumnavigate and let’s be honest, a material number of people will go out of their way to circumnavigate it.
Being a dual national has little impact on U.K. taxes as it’s based on your residency (now). However as mentioned previously of can off shore yourself but your investment will still be in scope of U.K. taxes if it was deemed to be made in the U.K. like I said you can’t just circumnavigate UK taxes by taking a train to Monaco and hanging out there for 6 months.
As ever when anyone’s cites ‘my mate down the pub’ it’s because they don’t actually know.
Anyway we are WAAAAAY off topic. Back to car tax. £200 what a scam rabble rabble rabble.
Just wait until they transition fuel duty onto VED, well that’s my prediction of what will happen post 2030. It’s the only realistic way they are going to be able to substitute the revenue and have a realistic prospect of collecting what is actually due without re-inventing the wheel and putting in place a loads of burdensome administrative processes.
It will add another £300-£400 onto the typical VED based on current fuel duty rates.
Milage based taxes and taxes on charging are just too easy to circumnavigate and let’s be honest, a material number of people will go out of their way to circumnavigate it.
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I mean, it IS a 1.3L, hence the '13B' engine code.
So they didn't do anything wrong, it's just as we know, a 2.6L when compared to a piston engine, volumetric efficiency wise.
The insurance prices in the past I had were registered as a 2.6L btw
So was fully legit.Ha, I know what you mean, a 1.6L civic is just as bad as a 4-6L or more V8 due to the year, tax wise haha!
Soldato
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TBF though HK is about the size of greater London, so owning a car is much less relevant. (I don't know how good the public transport system is, nor whether you can drive onto the mainland). Growing up in London, not only did my family not have a car but I didn't bother learning to drive until I needed it for work aged 25.
Singapore is even tinier and largely wealthy so it makes sense that cars are disincentivised.
What has been a big shock to me is just how reliant on cars people are outside London. I don't mean the obvious people who actually need a car as they live somewhere rural - I moved to a medium-large sized town and it is just car-centric. People drive to work when it's walking distance, park anywhere they like ignoring rules, it's obvious that there is much more of a default to using cars.
Caporegime
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I am aware, the system is set up to disincentivise you to get a car.
But as a user, why they do it doesn’t change how much it cost me, that’s the point, and as for public transportation, it’s great but also a different topic (I know it’s linked), I’m talking purely on the cost of running a car, if you want one
Soldato
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My 2ltr Diesel Estate is £20 a year.....