VED Meaning and
Definition
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VED stands for Vehicle Excise Duty. It is a tax imposed on vehicles in the United Kingdom based on their CO2 emissions and fuel type. Also known as car tax or road tax, VED is an annual payment required to be made by vehicle owners to drive or park their vehicles on public roads.
The amount of VED payable is determined by various factors, including the level of carbon dioxide emissions produced by the vehicle. Vehicles with higher emissions generally attract higher VED rates. The rates vary depending on the fuel type of the vehicle, with different rates for petrol, diesel, and hybrid/electric vehicles.
VED is collected by the Driver and Vehicle Licensing Agency (DVLA) and is a legal requirement for any vehicle that is used or parked on public roads, unless it is exempt. Failure to pay the correct amount of VED can result in penalties, fines, and the possibility of vehicle seizure.
The revenue generated from VED is primarily used to fund the maintenance and development of the road infrastructure in the UK. It is an important source of revenue for the government and helps ensure the upkeep of roads and highways.
Overall, VED is a tax imposed on vehicles in the UK to contribute towards the costs of maintaining the road network, while also encouraging the use of greener and more environmentally-friendly vehicles.
Common Misspellings for VED
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