Finance Bill 2002: EXPLANATORY NOTE
CLAUSE 16: VANS REGISTERED ON OR AFTER 1 MARCH 2001: RATES OF DUTY
SUMMARY
1. Clause 16 sets out rates of vehicle excise duty for light vans first registered after 1 March 2001, and specifies a new lower rate of duty of £105 for vans first registered after 1 March 2003 meeting the euro IV emissions standards from 1 March 2003.
DETAILS OF THE CLAUSE
2. Subsection (1) provides that there shall be two rates of duty for vans first registered in the light goods vehicle tax class on or after 1 March 2003; £160 and £105 for low-emission vans, and defines a low-emission van as one meeting the Euro IV emission standard as set out in EU Directive 98/69/EC.
3. Subsection (2) provides that these rates shall have effect on or after 1 March 2003.