What does Vehicle Excise Duty mean?
Definitions for Vehicle Excise Duty
ve·hi·cle ex·cise du·ty
This dictionary definitions page includes all the possible meanings, example usage and translations of the word Vehicle Excise Duty.
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Wikipedia
Vehicle Excise Duty
Vehicle Excise Duty (VED; also known as "vehicle tax", "car tax", and more controversially as "road tax", and formerly as a "tax disc") is an annual tax that is levied as an excise duty and which must be paid for most types of powered vehicles which are to be used (or parked) on public roads in the United Kingdom. Registered vehicles that are not being used or parked on public roads and which have been taxed since 31 January 1998, must be covered by a Statutory Off Road Notification (SORN) to avoid VED. In 2016, VED generated approximately £6 billion for the Exchequer.A vehicle tax was first introduced in Britain in 1888. In 1920, an excise duty was introduced that was specifically applied to motor vehicles; initially it was hypothecated (ring-fenced or earmarked) for road construction and paid directly into a special Road Fund. After 1937, this reservation of vehicle revenue for roads was ended, and instead the revenue was paid into the Consolidated Fund – the general pot of money held by government. Since then, maintenance of the UK road network has been funded out of general taxation, of which VED is a part.
Numerology
Chaldean Numerology
The numerical value of Vehicle Excise Duty in Chaldean Numerology is: 2
Pythagorean Numerology
The numerical value of Vehicle Excise Duty in Pythagorean Numerology is: 1
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"Vehicle Excise Duty." Definitions.net. STANDS4 LLC, 2024. Web. 29 Apr. 2024. <https://www.definitions.net/definition/Vehicle+Excise+Duty>.
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