# Finance Act 1995, Paragraph 6

Extent: E+W+S+N.I.

(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) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Source: https://www.legislation.gov.uk/ukpga/1995/4/schedule/4/paragraph/6 (the official version)
Page: https://openlegislation.uk/finance-act-1995/schedule-4/paragraph-6
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.