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New Tax Disc Rules for Vehicles
If you are interested in buying or selling of cars, it becomes even more essential for you to make yourselves aware of the new tax disc rules that are expected to come into effect by October, 2014. In the eyes of many, the new tax disc rules are going to have a significant impact on the car buying and selling.
It has been announced that Driving Vehicle Licensing Agency (DVLA) will no longer issue any paper tax discs, from 1st October, 2014. Though, the car owners will still be required to have vehicle tax, in order to keep a vehicle or drive it, but under the new tax disc rules, DVLA will only accept online payments, in all cases including Direct Debt payments. This means that instead of relying on and monitoring paper tax disc to identify tax evaders, DVLA will now take a swifter and more direct route for penalizing tax evaders. The process will now involve the direct identification of tax evaders by the monitoring of a vehicle’s number plate by the police camera.
The new tax disc rules are expected to facilitate the tax payment for vehicle owners, in terms of finance, time and energy expenditure. Not only will the new rules be influential in allowing a more convenient way of making online payments and saving money on postage, but will also allow more efficient and accurate monitoring and identification of tax evaders.
However, these new tax disc rules are to add extra load to the responsibilities of used car sellers and dealers. Under the new tax disc rules, it is understood that the used car sellers or dealers will inform the DVLA of any transactions that they are to be involved in with respect to car trade, beforehand. Similarly, the used car buyers might also bear some part of the burden, in term of tax transfer, under the new tax disc rules. They might no longer enjoy the automatic transfer of taxes, as they buy a used vehicle. Therefore, it is advised that they ensure that they get their taxes as soon as they buy their vehicles.
The measure has been taken to provide monetary refund to the car sellers, on the account of any months left on the car tax. Not being able to comply with the new tax disc rules may lead to adverse consequences for the used car buyers and seller.
Car sellers, in case of failing to inform DVLA of the transaction they are a party in, with respect to car trade, may not only lose out on the refund but will also be fined with a considerable sum of money. Moreover, this may also lead to them being charged with speeding and parking fines, and being expected to pay taxes for a commodity they don’t even have the ownership of. In fact, the potential and interested car sellers are advised to check online for their vehicle taxation, at Vehicle Enquiry Service, to avoid any chances of getting fined unnecessarily.
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