Classic Motors News
AB 1 Number Plate
A former chief constable has bought the first number plate AB 1 issued to the county after a police boss put the number plate up for sale.
The West Mercia Police and Crime Commissioner John Campion faced a backlash from ex-officers after he decided to sell the cherished AB 1 number plate to raise money for police funds.
Mr Campion said the car number plate had not been used for six years for security reasons and said the force was unlikely to use the car number plate on any of its vehicles in the future. His decision however sparked an angry backlash from several former police officers including Alan Matthews who launched a petition against the sale and which attracted 895 supporters.
The AB 1 cherished car registration number was traditionally displayed on the staff cars of the Worcestershires chief constables.
Paul West a former West Mercia Police chief constable has reassured retired officers that the piece of police heritage is safe in his possession.
It has been reported that Mr West purchased the AB 1 Cherished car registration number for £160,000 despite estimates that it was worth between £225,000 and £275,000.
‘I strongly opposed the sale’ he said and once I knew it was back on the open market we made a decision within the family and we decided we had to buy it.
The former chief constable said he is looking forward to once again driving around in a car which uses the historic car number plate. He also said that he will not sell the cherished number plate during his lifetime and that he will pass it onto his family when he dies.
Remember if you are looking for a cherished or personalised car number plate then search through our millions of number online via our website home page or alternatively contact one of our experienced sales staff on 0116 235 0116.
Classic Cars – T Charge Emissions Surcharge – update
Back in a blog post in July 2016 we told you about the proposed new emissions surcharge for tax exempt classic cars for central London.
As from Autumn 2017 tax exempt classic cars will not have to pay the £10 London Emissions Surcharge otherwise known as the ‘Toxicity Charge’ or ‘T Charge’, drivers of non-compliant cars will have to find the extra funds – billed Monday to Friday between 7am and 6pm from October 23rd 2017. Charging will not take place on Bank Holidays or during the festive period from Christmas Day to New Year’s day,
In a decision which has been welcomed by the Federation of British Historic Vehicle Clubs (FBHVC) vehicles taxed as ‘historic’ under rolling 40 year Vehicle Excise Duty (VED) will only pay the Congestion Charge which is £11.50 (for cars) to enter Central London.
Owners of so called ‘modern classics’ will be hit by the Emissions Surcharge. Any car built before 2005 (Euro 4) emissions standard will be liable for the standard Central London Congestion Charge (£11.50 for cars) plus the new T Charge (£10).
To see the full T Charge/Emissions Surcharge Data go to the Transport for London (TfL) website
https://tfl.gov.uk/modes/driving/emissions-surcharge?cid=emissions-surcharge
DVLA – adding missing car marques at last.
The DVLA has caved in to pressure from classic car owners and is starting to add missing car marques on to it’s online database.
If you remember we informed you of this issue back in July 2016 whereby the DVLA website was missing 43 marques on it’s online database.
Research reveals that owners and prospective buyers for previously missing marques such as Alvis, Allard, DeLorean, Crossley and Standard can now finally look up MoT history, tax and insurance data using the DVLA’s online service. And just in time too; as the Driver and Vehicle Standards Agency (DVSA) is urging classic car owners to check MoT details online after admitting that the paper versions are vulnerable to forgery. Most buyers accept paper MoT’s at face value but there are cloned and clocked vehicles so now you can check online so buyers don’t have to be so trusting.
Starting from the beginning of May the online Vehicle Enquiry Service will also be updated so owners will no longer have to look up records.
The Federation of British Historic Vehicle Clubs (FBHVC), however confirmed that the changes to registering classics or making changes to the V5C online have not been made yet. Geoff Lancaster FBHVC communications director explains; What you cannot do is enter a model name which does not have a V55/5 code. If you do not include a model name in a registration form, the DVLA may pull the model and make boxes correctly shown in the paper form into the just the make field in the online database. We think we have persuaded them to stop this. The FBHVC’s recommendation to those making new applications for registrations, particularly in respect of older overseas vehicles which are not likely to have relevant codes, is to not complete the ‘model’ portion of the V55/5.
Number Plate News – Classics on SORN may have to be insured
A new ruling by the European Court of Justice means that Classic Car Owners may have to insure their cars even when they are being stored or repaired off the road.
The Department for Transport has launched a consultation following a ruling in favour of Damijan Vnuk, a Slovenian man who was injured when knocked off a ladder by a trailer attached to a tractor in a barn. It has set the European legal precedent that vehicles – including Classic Cars currently registered as SORN, Statutory Off Road Notification – need to be insured even when on private land. Andrew Jones MP, Parliamentary Under Secretary of State for Transport says he has serious misgivings about the rulings implications.
Under the current system, classic owners don’t have to insure their car or pay road tax as SORN is registered with the DVLA. Changes to the law in 2013 meant that Historic Vehicles for which owners don’t pay road tax for – must be insured even when they are off the road. But unless the Government changes its interpretation of the Motor Insurance Directive then cars that are off the road and classed as SORN will have to be covered too.
Governments Options
Every vehicle on SORN must always have insurance in place. The Department for Transport believes that this is ‘onerous’ and actually goes beyond what the Vnuk judgement requires.
Any SORN vehicle which is used on private land must have insurance in place. This meets the requirements of the court case, but the government hasn’t stipulated what constitutes ‘use’.
Amending the EU’s Motor Insurance Directive altogether, meaning a vehicle would only need compulsory insurance if its used on land to which the public has access. If a classic on SORN is being used on public land the owner would be committing an offence, as is the case now.
The Department for Transport’s prefferred option, but potentially would require a new Act of Parliament to enact it.
Dangerous Drivers who kill could face life sentences
Under new plans that have been put forward by ministers Dangerous Drivers who kill are set to face life sentences.
Dangerous Drivers who cause death by their reckless driving, speeding, street racing or distracted by using a mobile phone could now be treated in a similar way to those who are charged with manslaughter.
These plans also apply to people who are under the influence of alcohol or drugs.
The Ministry of Justice wants your views on this proposal on whether the current maximum penalties should be increased.
You can give your views by February 1st 2017 by logging onto:
https://consult.justice.gov.uk/digital-communications/driving-offences-causing-death-or-serious-injury/
Other proposals include:
creating a new offence of causing serious injury by careless driving with a maximum sentence of 3 years
increasing minimum driving bans of those convicted of causing death
In 2015, 122 people were sentenced for causing death by driving with a further 21 convicted of causing death while under the influence. While the UK has one of the best road safety records in the world, deaths and injuries still cause devastation to the victims and their families.
So we wish all you Drivers a very safe Journey not just over the Christmas Festivities but at all times and remember Don’t Drink and Drive or use your mobile phone whilst driving, you can always call or text them back.
Safety First.
NEC Classic Motor Show
It is that time of the year when the NEC will hold its annual NEC Classic Motor Show. This year it is being held on 11th to 13th November 2016 at the NEC in Birmingham.
The show is hosted by Lancaster Insurance and this year they will have 2500 classic cars and motorcycles on display covering over one million square feet (about 12 football sized pitches).
Some of the attractions at this years show are
Silverstone Auctions
Meguiar’s Showcase
Wheeler Dealers Live Stage
All-Star Line-Up
Dream Rides
Lancaster Insurance Pride of Ownership
Star Cars and new for this year Christmas Ideas – ideas for the ‘leaded’ petrolhead
To see the full show guide go to http://www.necclassicmotorshow.com/sneak-peek-show
Don’t forget if you own a classic vehicle or motorcycle and would like to purchase your own personalised number plate we at Motor Marks offer a huge selection of Cherished,DVLA and Personalised Number Plates and are happy to help. Please contact us on 0116 235 0116
Classic Cars
Classic Cars have boosted the economy by £5.5 Billion according to figures from the the Federation of British Historic Vehicle Clubs ( FBHVC ). They have said that the Classic Car Industry has grown by almost 28% since 2011 and that ‘our hobby’ regarding classic cars has never been bigger, even though there have been lots of challenges faced by the classic car movement in recent years it is stronger than ever.
Some Key figures relating to Classic Cars
1,039,950 pre-1985 cars on the road according to DVLA figures
512,499 of these historic vehicles are cars
2444 public members, 10,546 enthusiasts, 356 Traders and 159 Clubs responded to the FBHVC’s Survey.
Total worth of British Classics estimated at £17.8 Billion
53% of pre-1985 historic vehicles in Britain valued at less than £10,000
So if you are looking for a special cherished or personalised number plate to go on your classic car then look no further. Search our huge database of 100,000’s vehicle number plates or alternatively call us on 0116 235 0116 and speak to one of our experienced Sales Staff.
Happy Motoring
Classic Cars – New tax planned when selling
Rumours surrounding that Capital Gains Tax is to be extended to classic cars has neither been verified or dismissed by Her Majesty’s Revenue and Customs (HMRC).
Capital Gains Tax is a tax on the profit when you sell an asset that has increased in value, not the amount of money you receive. Profits made by private individuals are not subject to Capital Gains Tax – at the moment, as classic are classed as ‘wasting assets’ which have a predicted useful life of less than 50 years.
Insiders believe that HMRC is looking at new tiers that would affect private individuals who effectively trade in classics with the main purpose of making a profit. Income tax would be applied to so called hobby traders at a new capital gains tax rate – the current base is 20%. Where an individual is in business and is buying and selling classic cars with the intention of making a profit, then income tax may apply to those profits at rates of up to 45%.
The HMRC and Treasury have not given any firm guidelines on what they deem as ‘trading’.
Whatever the outcome it is vital that you keep every single receipt for every item you have bought since acquiring the car just in case this needs to be offset if the taxation status changes.
Capital Gains Tax – A Brief History
1965 – Labour Chancellor James Callaghan introduces Capital Gains Tax at 30% to stop people avoiding income tax. A threshold of £9500 was set.
1988 – Income Tax for high rate taxpayers was lowered from 60% to 40%, and with basic rate payers from 30% to 25% Capital Gains Tax rates followed suit, with a threshold lowered to £5000.
1997 – Capital Gains Tax threshold hits £6500 in the last year of the Tory Chancellorship of Kenneth Clarke.
1998 – Labour’s Gordon Brown introduces a system where the longer you held the asset the lower the rate of tax you paid on it. If you had owned an asset for 10 years, the rate fell from 40% to 24%
2008 – In Alastair Darling’s first budget as Labour Chancellor he scraps the dual rate of Capital Gains Tax and introduces a new lower rate of 18%
2016 – With no major changes to Capital Gains Tax in recent years, rumours are rife that classic cars could fall victim of it.
No Exemption for Classic Cars entering London
Classic Car owners will have to pay a whopping £21.50 a day to drive into the centre of London from next year.
Sadiq Khan, the Mayor of London has announced the introduction of an additional £10 ‘T-charge’. The measure is being set up to reduce emissions, bringing the figure up to £21.50 which includes the original £11.50 congestion charge. From 2017, it will tax vehicles registered before 2005 and the levy will apply to all vehicles with pre-Euro IV emission standards and will operate in the same area as the congestion charge zone between 7.00am and 6.00pm Monday -Friday.
Speaking from FBHVC communications the Director Geoff Lancaster says ‘Policy Makers have not taken classic cars into account, it is nonsense!
A spokesperson for the Mayor of London Sadiq Khan said that there were no current proposals to exempt classic cars from the new ‘T-charge’ but were prepared to listen to feedback from the classic car industry.
Historic vehicles are already exempt from a separate low emissions area the ULEZ ( Ultra Low Emissions Zone) which is due to be extended form central London to cover the North and South Circular roads from 7th September 2020.
Mayor of London Sadiq Khan says with nearly 10,000 people dying early every year in London due to exposure to air pollution cleaning up London’s toxic air was now an issue of life and death.