A big thank you, however...

[T6 CFO]

Do you know if this new tax change after April for an extra annual supplement for new vehicles over £40,000 apples to 2nd hand vehicles as well ?

Nope for new vehicles.


Mike

 

[Exige]

Julian Camperman - Given that we were only told about the mistake the afternoon before the morning we were going to pick it up we had already registered the van, taxed it, insured it etc. Hence at least no problem with the new tax threshold, although obviously paying tax on a van we cannot yet use.

T6 CFO - agree about options. We have given them a list!!

Amarillo - plenty of corporate bonds & high yielding shares out there but that kind of advice will cost you

On another issue just bought some stuff from the everythingcali shop on this website - they all came the following day & were actually what we ordered - great service!

 

[Amarillo]

Amarillo - plenty of corporate bonds & high yielding shares out there but that kind of advice will cost you

Past performance is not a reliable indicator of future performance.

 

[Dayzee]

We're in a similar place..... Told yesterday that ours in not likely to arrive until mid April..... The dealer has offered to pay the first year tax difference..... Still leaves us picking up the bill for years 2 and 3.... Not happy but still discussing....

Is anyone able to define clearly for us what the extra over cost is please.... As it's our first van, we're not absolutely clear.... Although I'm sure it's simple

In terms of compensation, I think the dealer fit options or service deal is the way forward.......

....are the dealer fit options all in the accessory catalogue..... Does anyone recommend the best / or even essential picks.....?

 

[Cumbrian_Cali]

Dayzee.
The extra cost would be £150 per year (this is on top of the current VED cost)

 

[Dayzee]

Thanks.... I guess that's an extra £150/year for three years.....? Ie .. if I don't get it registered by 1st April.... It makes a £450 difference to life....?

 

[Jabberwocky]

Unless you tax it before 1 April you may be 'punished' by the awful UK Road Tax laws that will sting you for extra duty for the next three years so you may want to get onto them to tax it now unless you have already done this

https://www.gov.uk/government/news/new-vehicle-tax-rates-from-1-april-2017

Just to be clear, its a five year sting.

Edit: Just realised your three year comment was ref to earlier post not a general point - sorry!

 

[Exige]

Past performance is not a reliable indicator of future performance.

Unfortunately that's what Mrs S said recently

 

[Cumbrian_Cali]

Thanks.... I guess that's an extra £150/year for three years.....? Ie .. if I don't get it registered by 1st April.... It makes a £450 difference to life....?

Scratch my initial comment, I've jus had a look....
See the table attached and it does affect the vehicle for 5 years.

 

[andyinluton]

Its actually 6 years as its the first 5 renewals that you have to pay the supplement.
Where did the £150 extra come from? its £310 supplement on top of the £140 so £450/year

 

[Jabberwocky]

This is my take on the new VED for a 150ps 7sp DSG Ocean registered on or after 1st April 2017.

 

[Cumbrian_Cali]

Its actually 6 years as its the first 5 renewals that you have to pay the supplement.
Where did the £150 extra come from? its £310 supplement on top of the £140 so £450/year

The OP mentioned that the dealer had agreed to pay the initial VED cost so it would affect them for the following 5 years worth of renewals which is what the question was?

 

[sidepod]

Mind you, I don't know but are the seats covered in packaging and the assemblers just go by labels? In which case it might not be found until the Dealer PDI and unpacking?

Unlikely. Assembly lines are amazing. Next time you're in Ox take a trip around the Mini plant. You'll be amazed at how each individual car build is planned.

 

[WelshGas]

Unlikely. Assembly lines are amazing. Next time you're in Ox take a trip around the Mini plant. You'll be amazed at how each individual car build is planned.

Been there twice. Every item is coded and read by scanners before entering the line. Upholstery was covered in protective film that was opaque with a code on the outside. If the upholstery manufacturer used the incorrect code on the protective cover - - - - then the wrong seat could be fitted and not known about until the cover is removed at PDI.

 

[B J G]

We're in a similar place..... Told yesterday that ours in not likely to arrive until mid April..... The dealer has offered to pay the first year tax difference..... Still leaves us picking up the bill for years 2 and 3.... Not happy but still discussing....

Is anyone able to define clearly for us what the extra over cost is please.... As it's our first van, we're not absolutely clear.... Although I'm sure it's simple

In terms of compensation, I think the dealer fit options or service deal is the way forward.......

....are the dealer fit options all in the accessory catalogue..... Does anyone recommend the best / or even essential picks.....?

My calculation was £1750. but & a big but can anyone really believe that VED will remain constant for the next 6 years?
The political 'on trend' message is now anti diesel so if not hit by a VED hike then a fuel one. I'd say VED as fuel hits transportation costs and inflation. With Brexit turmoil not a good political place to go.

 

[Dayzee]

Thanks all.... That's helped us understand It.....

 

[Bearreds]

Nope for new vehicles.


Mike

So if I get my x demo in 4 months time I will not qualify for this over £40,000 vehicle tax ?

 

[B J G]

Provided it was registered before end of March.

All related to the registration date, If you bought on 1st April & sold on the second of anytime during the next 6 year period, the new owner would be subject the same total six year VED payments.

 

[Bearreds]

What I am saying is if I buy a new 2nd hand vehicle ( e demo ) who pays the over £ 40,000 supplement ?
Does this get past over to the 2nd owner or even 3rd owner until the 5 yrs are up ?

 

[Bearreds]

Provided it was registered before end of March.

All related to the registration date, If you bought on 1st April & sold on the second of anytime during the next 6 year period, the new owner would be subject the same total six year VED payments.

We must be mugs putting up with this !
Why do we let are selfs get walked over time again!
French would never stand for it .
But I guess most people who can afford a vehicle of over £40,000 are not worried about it .
Different for me could be a game changer .

 

[CYCLOPATH]

I thought that the only "high interest" accounts on offer at the moment were from payday loan sharks.

My Lloyds Bank savings account pays 0.05%, so I leave most of my cash in a Santander 123 current account which pays 1.5%.

Over 60 % in three years, that's high interest .( but remember investments can go down as up)

 

[Velma's Dad]

Over 60 % in three years, that's high interest .( but remember investments can go down as up)

Hahahahahahaha.

Well of course you can always find individual equity funds or other assets that have shown spectacular gains (or falls). It tells you nothing... unless you have a crystal ball that tells you who it's going to be next time.

Schroders* asset class forecasts for 2016-23 assume nominal returns on global equities (MSCI World index, in USD) of 6.1% pa, or 4.0% after inflation. And on UK cash deposits (GBP) it's 1.1% nominal, -0.8% after inflation.

* Other forecasters are available, although they aren't a million miles off those. And I have no connection to the financial services industry.

 

[B J G]

What I am saying is if I buy a new 2nd hand vehicle ( e demo ) who pays the over £ 40,000 supplement ?
Does this get past over to the 2nd owner or even 3rd owner until the 5 yrs are up ?

First registration pays £800 year 1. then an additional £350 for the next 5 years. £140 being the new basic VED per year. This gives £490 for 5 years then the £350 drops out leaving £140.

There is a complication that I don't know the answer as yet. The £800 is payable when registering but as VED isn't transferable to the new owner, would the first owner get a portion of the £800 refunded and the new owner be expected to pay that to the DVLA plus basic VED?
I'd make sure that the first years £800 was paid by the Dealer if I bought an ex-demo Cali. Remember VED isn't transferable anymore.

The new VED rate period (6 years in total) stays with the vehicle regardless of ownership transfers.
Vehicle registered 1/4/2017, supplement ends 31/3/2023.
That can be altered at any time by the Chancellor so not set in stone.

 

[Amarillo]

View attachment 19768
Over 60 % in three years, that's high interest .( but remember investments can go down as up)

The value of my disposable assets has increased by 110% in the same three years.

My query was about an earlier poster's reference to "high interest savings" which I took to mean cash savings.

Our boys (aged 1 year and 3 years) manage 2.25% paid gross with Nationwide and a savings limit of £50,000.

My wife and I manage 1.5% on our pitiful cash savings in a Santander current account, with a limit of £20,000.

We had the cash for our California Beach lying on a pitiful rate of interest between April 2016 and March 2017. I'd have loved to have been able to find "high interest savings" account to park the cash until needed - I couldn't.

In contrast, there are some excellent opportunities for borrowers out there. I pay 1.38% on my residential mortgage, and even my credit card company offers me up to £12,500 at 0% for 21 months for a 3% fee; this is equivalent to about 1.7% p.a.

What this all boils down to is a massive transfer of cash from savers to borrowers.

 

[ArunAlec]

The value of my disposable assets has increased by 110% in the same three years.

My query was about an earlier poster's reference to "high interest savings" which I took to mean cash savings.

Our boys (aged 1 year and 3 years) manage 2.25% paid gross with Nationwide and a savings limit of £50,000.

My wife and I manage 1.5% on our pitiful cash savings in a Santander current account, with a limit of £20,000.

We had the cash for our California Beach lying on a pitiful rate of interest between April 2016 and March 2017. I'd have loved to have been able to find "high interest savings" account to park the cash until needed - I couldn't.

In contrast, there are some excellent opportunities for borrowers out there. I pay 1.38% on my residential mortgage, and even my credit card company offers me up to £12,500 at 0% for 21 months for a 3% fee; this is equivalent to about 1.7% p.a.

What this all boils down to is a massive transfer of cash from savers to borrowers.

If you don't mind a slight risk investing in Peer 2 Peer lending offers very good returns and also offers favourable rates to borrowers. Most allow you to select the level of risk and hence return. I've been saving with a number of platforms over the last few years and never had a problem.