Finance Act 1995

6 (1) In Schedule 1 to the 1994 Act (annual rates of duty) the following paragraph shall be substituted for paragraph 1 (annual rate of duty where no other rate specified)—

“1 (1) The annual rate of vehicle excise duty applicable to a vehicle in respect of which no other annual rate is specified by this Schedule is—

(a) if it was constructed after 1946, the general rate;

(b) if it was constructed before 1947, the reduced rate.

(2) The general rate is £135.

(3) The reduced rate is 50 per cent. of the general rate.

(4) Where an amount arrived at in accordance with sub-paragraph (3) is an amount—

(a) which is not a multiple of £5, and

(b) which on division by five does not produce a remainder of £2.50,

the rate is the amount arrived at rounded (either up or down) to the nearest amount which is a multiple of £5.

(5) Where an amount arrived at in accordance with sub-paragraph (3) is an amount which on division by five produces a remainder of £2.50, the rate is the amount arrived at increased by £2.50.”

(2) The following amendments shall be made in consequence of sub-paragraph (1) above—

(a) in section 13 of the 1994 Act (trade licences) in subsection (3)(b) for “1(b)” there shall be substituted “1(1)(a)”;

(b) in section 13 of the 1994 Act as substituted under paragraph 8 of Schedule 4 to that Act, in subsection (4)(b) for “1(b)” there shall be substituted “1(1)(a)”;

(c) in section 36 of the 1994 Act (additional liability where cheque dishonoured) in subsection (3)(b) for “1(b)” there shall be substituted “1(1)(a)”.