17 Series Number Plates
Well the 17 Series number plates was launched yesterday. You can now purchase a 17 series cherished number plate.
Obviously these types of number plates will only be allowed to be transferred to a March 2017 vehicle or newer but come supplied on a 10 year retention certificate.
Still not purchased one or not sure what cherished number plate is best for you.
Why not call one of our experienced Sales Staff at Motor Marks on 0116 235 0116 where they will be happy to help with your choice.
Plenty of Personalised and Cherished DVLA Car Number Plates to browse through on our online database click here.
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
Number Plate News
Well we have just waved goodbye to another auction of cherished and personalised DVLA number plates and it just goes to show that they are becoming more and more of an investment. Property is still one of the best decisions you can make in investing your money but I have to say that Cherished Number Plates are becoming a firm second. The revenue being made by the sale of these personalised number plates is huge and the top 5 selling numbers in last weeks auction were:
5 UV £51,000
675 M £30,500
321 O £29,000
KN16 HTS £28,600
500 OOO £25,000
All these prices are on the hammer so there is also the VAT and buyers premium and £80 ct fee to be added.
We at Motor Marks have a huge database of cherished number plates and are happy to assist you with your enquiry.
Please contact one of our Sales Staff on 0116 235 0116
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.
Vehicle Tax Disc – Revenues Plummet
In the 6 months after the vehicle tax disc was scrapped the amount of vehicle tax collected in the UK fell by more than £200m figures have shown.
The paper tax disc that was first issued in 1921 was replaced in October 2014 by the online system in an overhaul that cost £1m and that critics warned would lead to confusion among motorists.
The latest figures obtained by the Financial Times in an Freedom of Information request, show that the DVLA Driver and Vehicle Licensing Agency saw an immediate drop in its revenue following the changes, The National Audit Office had claimed there would be no ‘material increase in lost revenue’ as a result.
Between October 2014 and March 2015 some £2.7bn was collected in Vehicle Excise Duty. This was £223m lower than the amount collected between October and March a year earlier. In contrast the £3.2bn collected between April and September 2014 was flat compared to a year earlier.
Figures from the DVLA for the 12 months to March 2016 are expected to be published after the UK’s EU referendum which took place on June 23rd 2016. This will give a full picture of the 12 months following the change, as well as an insight into the period from October 2015 – when motorists did not have the tax disc in their windscreens to remind them of the renewal date.
According to its latest report, the changes cost the DVLA £1m which was mostly spent on IT.
The DVLA uses a debt collection agency, Marston Holdings, to claw back lost payments. According to the company’s most recent accounts, pre-tax profits more than doubled from £5.8m to £13.6m in the 12 months to the end of May 2015. Revenue for the business which also counts the HMRC, Transport for London and local authorities among its clients rose from £58.5m to £84.4m through both acquisitions and organic growth. Income from distress warrant enforcement – when bailiffs are sent to a property – rose from £49.7m to £77.5m. The company did not show how much of its income comes from the DVLA and did not respond to calls or email for comment.
The DfT had estimated that £80m of vehicle tax revenue would be lost in 2015 – much higher than the £30m it had forecast for 2013. Its estimates are drawn from roadside analysis of untaxed vehicles and produced every 2 years. After a survey of 256 sites the department estimated in November 2015 that 1.5% of cars on the road were untaxed. This was s harp increase in the 0.6% figure for 2013, which it said was ‘probably due to major changes to the vehicle licensing system, which took place in October 2014’. As well as abolishing the physical tax disc, a requirement was brought in to tax vehicles when buying them, rather than rolling over to the previous owner’s vehicle tax.
Oliver Morley, DVLA chief executive, said “Almost 99% of all vehicles on the road are correctly taxed: that’s around £6bn in vehicle tax passed to the Treasury every year. We writ to every registered vehicle keeper in the UK to remind them when their tax is due and we have introduced a range of measures to make vehicle tax easy to pay, such as direct debit or online. At the same time we are taking action against those who are determined to break the law.
from the “Financial Times website June”
Personalised Number Plates – Popular than ever!
If its in the press then its got to be right hasn’t it. Personalised and cherished number plates are now more poplular than ever and even rank up there with ‘Fine Wine’ and ‘Rolex Watches’ as a way of investing your money.
The sale of Personalised and Cherished car number plates raised a record £102million for the Treasury and us Britain’s are turning into a nation of show offs and what better way than to invest in a cherished number plate.
Last year saw around 335,000 personalised and cherished number plates sold in the UK and the DVLA brought in £15million more in sales of cherished and personalised number plates compared with the previous year.
The most expensive cherished number plate sold to date in the UK was ’25 O’ which fetched £400,000
Don’t just take my word for it see these stories in the national press
Search our extensive database with millions of cherished, personalised and DVLA car number plates or call one of our experienced sales staff on 0116 235 0116 now and purchase your future investment.
66 Series Car Number Plates
Well it is only a month until the new car registration numbers the 66 series can be transferred to your new vehicle. Still not bought one or not sure what cherished number plate is best for you.
Why not call our experienced sales staff on 0116 235 0116 where they will be happy to help.
Plenty of cherished and personalised number plates to browse through on our online facility click here