Vehicle Excised Duty
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High Quality Content by WIKIPEDIA articles! Vehicle Excise Duty (VED) is a British excise duty, which has to be paid to acquire a vehicle licence for most types of motor vehicle. A vehicle licence is usually required if a vehicle is to be legally used on the public roads. The tax, although commonly referred to as road tax, is not hypothecated for spending on roads, the entire proceeds contributing to central government revenues. Excise duty on road vehicles was first introduced in the 1888 budget, and a new excise duty specifically for motor vehicles was introduced in 1920. VED is collected an...
High Quality Content by WIKIPEDIA articles! Vehicle Excise Duty (VED) is a British excise duty, which has to be paid to acquire a vehicle licence for most types of motor vehicle. A vehicle licence is usually required if a vehicle is to be legally used on the public roads. The tax, although commonly referred to as road tax, is not hypothecated for spending on roads, the entire proceeds contributing to central government revenues. Excise duty on road vehicles was first introduced in the 1888 budget, and a new excise duty specifically for motor vehicles was introduced in 1920. VED is collected and enforced by the Driver and Vehicle Licensing Agency. Proof of payment comes in the form of a paper disc that must be clearly displayed on the vehicle, and gives rise to the third interchangeable common term used for the tax, tax disc.
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