Classic car owners could be ‘targeted’ by major | Tech News
Mark Roper, managing director of traditional car insurer Hagerty UK is pushing for the Government to take care of the present system, explaining historic vehicle owners had been being “targeted” unfairly.
Mr Roper mentioned: “Classic car owners are often targeted, as they are seen as being polluting. The reality is the opposite, as most classic cars are used sparingly, for fun and enjoyment and nowadays all run on modern, clean fuels. To consider taking away the 40-year tax exemption will be another blow to an industry which provides almost £3billion in UK taxes, and it’s time we looked more favourably on classic car owners, and the industry as a whole.
“Hagerty is committed to the preservation of classic car culture, and works closely with groups such as the Historic and Classic Vehicle Alliance (HCVA), an organisation dedicated to supporting the classic car industry, and we have our own Hagerty Drivers Foundation which educates a new generation in the benefits of classic cars.
“I urge the Government to reconsider removal of the exemption and allow owners and enthusiasts to enjoy the wonderful cars we all enjoy seeing on the road.”
The Treasury has not mentioned it could change tax exception guidelines, with Mr Holden’s feedback merely a prediction of what drivers could face on the Budget.
However, Treasury chiefs have nonetheless did not rule out the transfer earlier than Rachel Reeves‘ hotly anticipated assertion is learn out in November.
A Treasury spokesperson informed Express.co.uk: “The Chancellor makes tax policy decisions at fiscal events. We do not comment on speculation around future changes to tax policy.”
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