2024 Vehicle tax NX350h

[Sadz]

3 minutes ago, Tickedon said:

The luxury car tax element is for years 2 to 6. So you don’t pay it in the first year, but do for the following 5 years. VED typically increases by inflation each year, including the luxury element. 

Wouldn't it be locked in based on when the car was registered? Or, will it just follow whatever the price is on that time?

[Tickedon]

9 minutes ago, Sadz said:

Wouldn't it be locked in based on when the car was registered? Or, will it just follow whatever the price is on that time?

No, you pay the current rate.

The VED “scheme” you’re on is (broadly) “locked” based on year of registration (e.g. the last change was April 2017, so cars before then pay a different set of figures and rates to cars after April 1st 2017]. But the rates in that scheme increase by inflation each year, so I’m afraid we can all look forward to higher prices, both for the standard car tax rate and also the luxury element. They are also removing the £10 discount for hybrid vehicles. 

[Hadrian]

I'm looking at buying a used NX300h in the not too distant future. Probably one from around 2020-21.  I take it that

it will fall into this higher tax band ?   A big change from the £10 a year I currently pay with my IS300h

[Andyml]

Comments above should answer this for you Hadrian. 👍

[Hadrian]

41 minutes ago, Andyml said:

Comments above should answer this for you Hadrian. 👍

If they did I wouldn't have asked.

[Bounce75]

1 hour ago, Hadrian said:

I'm looking at buying a used NX300h in the not too distant future. Probably one from around 2020-21.  I take it that

it will fall into this higher tax band ?   A big change from the £10 a year I currently pay with my IS300h

Yes it will until it is 6 years old I believe.

[Spock66]

So VED rises each year with inflation, but not the £40k threshold which has been fixed since 2017.

[wharfhouse]

22 minutes ago, Spock66 said:

So VED rises each year with inflation, but not the £40k threshold which has been fixed since 2017.

Yet more fiscal drag...

[Alan305]

EV’s over £40k don’t pay this extra at present.

[Hadrian]

22 hours ago, Bounce75 said:

Yes it will until it is 6 years old I believe.

Thank you

[Tickedon]

4 hours ago, Alan305 said:

EV’s over £40k don’t pay this extra at present.

They don’t. However, new EVs registered after April 2025 will again pay this.

[ColinBarber]

On 3/25/2024 at 2:48 PM, Hadrian said:

I'm looking at buying a used NX300h in the not too distant future. Probably one from around 2020-21.  I take it that

it will fall into this higher tax band ?   A big change from the £10 a year I currently pay with my IS300h

It would depend on the grade and if it had expensive paint or some other option that took it over the threshold.

[Hadrian]

12 minutes ago, ColinBarber said:

It would depend on the grade and if it had expensive paint or some other option that took it over the threshold.

I assume the  price for VED purposes includes VAT.  So if you want anything other than Black, you go over the £40k threshhold.  What happens if it comes just under the threshhold

Edited March 26 by Hadrian
pressed wrong button

[ColinBarber]

2 hours ago, Hadrian said:

I assume the  price for VED purposes includes VAT.  So if you want anything other than Black, you go over the £40k threshhold.  What happens if it comes just under the threshhold

You need to add up the list price (which includes VAT but doesn't include delivery, number plates, VED and registration fee) of the vehicle plus all options/accessories. If it is over £40k you pay the extra tax in years 2 to 6 of the vehicle's life + the normal VED (£390+£170), if it is under £40k then there is no extra - just the normal VED (£170).

[The Swedish Guy]

Over here we have a system since the last 10 (?) years where you pay you road tax based on CO2 emissions....

As an extra spin on it  they added the "Bonus-Malus" system  back in 2018  

1£ = 13,40 SEK

Bonus means good. Malus means bad. The idea of the bonus malus system is to reward vehicles that emit relatively small amounts of carbon dioxide (CO2), while burdening vehicles that emit relatively large amounts of CO2 with higher vehicle tax for the first three years: malus. This way, the bonus malus system can serve as a complement to the more general fuel tax, and contribute to reducing the transport sector's oil dependence and climate impact. Since 8 November 2022 only the malus part of the system remains.

For vehicles that are put into use and become taxable for the first time on or after 1 June 2022 is the carbon dioxide charge 107 SEK per gram of CO2 if the vehicle emits more than 75 grams and up to 125 grams of CO2 per kilometre, and 132 SEK per gram if the vehicle emits more than 125 grams per kilometre.

The additional environmental charge is 250 SEK per year and shall be paid for diesel powered vehicles.

The additional fuel charge shall also be paid for diesel powered vehicles. It is calculated by multiplying the vehicle's total CO₂ emission (in grams) per kilometre during mixed driving with 13.52.

Takes a lot of calculating to get it right... simplyfied its like this:

Petrol powered vehicle

Basic charge + carbon dioxide charge

Diesel powered vehicle

Basic charge + carbon dioxide charge + additional environmental charge + additional fuel charge

Hybrid electric vehicle

The same goes for hybrid electric vehicles. If that is the case, you base your calculation on the fuel of the internal combustion engine (usually petrol).

 

[TomLC500h]

On 2/12/2024 at 12:21 PM, Scotlex said:

I am very surprised that manufacturers don't sell lots of cars at £39,995.

There are even lots of cars just over £40k which seems stupid 🙄

I think, from memory, when the 2nd generation NX arrived in the UK the base model was a snip under £40k

[Tickedon]

4 hours ago, TomLC500h said:

I think, from memory, when the 2nd generation NX arrived in the UK the base model was a snip under £40k

Yes, originally NX and NX with premium pack were just under…but I’m not sure (m)any were actually delivered before the list price increased? The VED is based on the list price the day before new car registration rather than point of order. first deliveries were due January, and by April 2022, all were listed over £40k. The NX FWD also then appeared, but, quickly also moved above 40k and so unclear if any were delivered before that. 

[Al D-Much]

I must be lucky somehow.
Bought new in 2020 NX300h with premium plus pack, list over £40k at £42,500. Actually paid only £37,500.
Paid my VED as you have to. Just paid VED back in February, only £170.00, the highest I've ever paid so far.
I was warned by the dealer of the "envy" tax, and was prepared for it. So far in 4 years of ownership haven't been charged the additional Posh-Payment. 

[Tickedon]

1 hour ago, Al D-Much said:

I must be lucky somehow.
Bought new in 2020 NX300h with premium plus pack, list over £40k at £42,500. Actually paid only £37,500.
Paid my VED as you have to. Just paid VED back in February, only £170.00, the highest I've ever paid so far.
I was warned by the dealer of the "envy" tax, and was prepared for it. So far in 4 years of ownership haven't been charged the additional Posh-Payment. 

It will show on the V5 if the luxury tax applies. Sounds like the dealer didn’t register it properly, probably putting sale price rather than list price on the form, so lucky you!

[78csj]

I got mine Feb 2022 Gen2, NX 350h, AWD prem plus in black under the £40k, recently renewed the tax at £170.

[Tickedon]

1 hour ago, 78csj said:

I got mine Feb 2022 Gen2, NX 350h, AWD prem plus in black under the £40k, recently renewed the tax at £170.

Your dealer also registered it wrong then! Lucky you 🙂 

Jan 2022 price list (you use the list price from day before registration) has premium plus at £47k (launch price was £45k, so still over)…

https://media.lexus.co.uk/wp-content/uploads/sites/3/pdf/220120-NX-Price-List.pdf

[78csj]

I’m not too sure about that, I ordered mine Oct 2021, and got the price and trade in locked in, which there was no problem with, it was the £500 deposit order deal, they have also offered me a new ES prem plus for £40k with delivery in October.

[Tickedon]

22 minutes ago, 78csj said:

I’m not too sure about that, I ordered mine Oct 2021, and got the price and trade in locked in, which there was no problem with, it was the £500 deposit order deal, they have also offered me a new ES prem plus for £40k with delivery in October.

The luxury car tax rules are based on the list price the day before registration and it's that list price which should be used on the form V55 by dealers - not the price you paid, or the price on the date of ordering. This has caught many people out, as list prices have increased for some cars after ordering, meaning people have ended up paying it (or cancelling vehicles).