Vehicle Excise and Registration Act 1994 section 1GF

Determining the price of a vehicle for vehicle excise duty purposes

Section 1GF explains how to determine the price of a vehicle for the purpose of calculating vehicle excise duty bands, using either the manufacturer's list price plus any non-standard accessories, or a notional price where no list price exists.

• A vehicle's price is its list price plus the price of any non-standard accessories fitted at the time of first registration, or its notional price if no list price exists.
• Non-standard accessories are also valued at their list price if one exists, or at their notional price if not.
• The definitions of key terms such as "list price", "notional price", and "non-standard accessory" are borrowed from the income tax company car benefit rules in the Income Tax (Earnings and Pensions) Act 2003.
• Certain modifications apply when importing those income tax definitions: for example, references to "car" are read as "vehicle", and vehicle excise duty is excluded from the concept of "relevant taxes".