- Y Diweddaraf sydd Ar Gael (Diwygiedig)
- Gwreiddiol (Fel y'i Deddfwyd)
There are currently no known outstanding effects for the Finance Act 2021, Section 105.
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(1)Section 19 of VERA 1994 (rebates of vehicle excise duty) is amended as follows.
(2)In subsection (3A) for “subsection (3B)” substitute “ subsections (3B) and (3C) ”.
(3)After subsection (3B) insert—
“(3C)Where the annual rate of duty chargeable on a vehicle licence at the time when it was taken out is determined in accordance with paragraph 1GE(2) of Schedule 1 (higher rates of duty: vehicles with a price exceeding £40,000) the relevant amount is given by—
where—
H is the annual rate of duty chargeable on the licence at the time when it was taken out;
R is the number of complete months (if any) of that part of the currency of the licence which is unexpired—
in respect of which the rebate condition is satisfied, and
which are within the period of six years beginning with the day of registration;
L is the annual rate of duty that would have been chargeable on the licence at the time when it was taken out if that time had been after the period of six years beginning with the day of registration;
P is the number of complete months (if any) of that part of the currency of the licence which is unexpired—
in respect of which the rebate condition is satisfied, and
which are not within R.
(3D)In subsection (3C) the “day of registration” means the day on which the vehicle in respect of which the licence is in force was first registered under this Act or under the law of a country or territory outside the United Kingdom.”
(4)The amendments made by this section have effect in relation to cases where a rebate condition (within the meaning of section 19 of VERA 1994) is satisfied on or after 1 April 2021.
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