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New driving laws and regulations come into effect in 2024 and may affect you – in this overview we look at what applies to you and what to look out for:
From January 1st this year car manufacturers need to make at least 22% of car sales and 10% of van sales fully electric under the Zero Emission Vehicle (ZEV) mandate which aims to increase the sale of Electric Vehicles (EV’s) to help reduce emissions. This is with the aim of by 2030 at least 80% of the cars sold are electric and by 2035 all cars sold in the UK produce zero emissions.
Failure to hit this target will result in fines of £15,000 per car and £9,000 per van short of the target. How does this impact you – manufacturers are likely to increase the number of options available for EV’s to entice you into buying electric and there is likely to be better deals out there too. Interested in finding out more about EV’s and what’s available, then check out the dedicated Electric Vehicle area of our website.
If you run an electric vehicle you’ll be exempt from vehicle excise duty until March 2025. Then moving forward from April 2025 to 2026 you’ll be subject to the minimal tax rate of £10 for the first year followed by a standard annual rate of £165.
Electric Vehicle also enjoy being free of congestion charges in London until December 25th 2025 extending their exemption period.
The 5ppl (pence per litre) cut was extended to 22 March 2025 aimed at maintaining the rates of fuel duty at the reduced levels set on 23 March 2022 to support households and businesses. This will keep costs for petrol and diesel lower for another year to March 2025.
Benefit in Kind (BiK) refers to the tax you pay when you buy a car through your company’s salary sacrifice scheme and rates are based on your car’s CO2 emissions. These rates have been stable and will continue to be so until the end of the financial year 2024-2025. From 2025 onwards BiK rates will increase by 1% in each tax bracket, including tax on zero-emission cars.
This is a work in progress. The Driver and Vehicle Standards Agency (DVSA) is considering updates to the eyesight assessment section of the driving test. They are working with a Medical Panel to review the testing process and their goal is to implement a more flexible approach to testing including assessing drivers’ vision under different lighting conditions. This could impact new drivers or those renewing their license.
This is to reduce the number of deaths and injuries on London roads. Transport for London (TfL) now requires heavy goods vehicles (HGVs) to have a safety permit before entering most parts of Greater London. From 28th October 2024 onwards all lorries over 12 tonnes must have a three-star rating or fit a progressive Safe System in the vehicle to make it safer and keep operating in Greater London. If you drive an HGV you must make sure your vehicle meets the necessary standards otherwise you will face penalties.
This is part of the new ‘transport vision’ for Cardiff put forward by Cardiff Council. Early days but a decision is hoped for by the end of 2024. The hope is to reduce traffic, improve air quality and promote the use of public transportation. Some of the details being discussed are whether the charge would only apply to visitors or would include residents as well and if the latter applies whether they’d be offered discounts like London residents get for the ULEZ charge.
These laws and regulations for 2024 will bring about change that to varying degrees will impact your driving experience. This applies to you whether you lease a car or are considering leasing a car, managing a business or simply commuting daily. By understanding the effect of these changes you are in a better position to make informed decisions and adapt your vehicle preferences and financial plans. We hope we have helped. Any questions on leasing a car and what’s out there, contact one of our knowledgeable account managers for more information.
