VED

04.08.2013 19:14

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VED

1) Vehicle excise duty. Payable for all motor vehicles kept on roads (unless exemption certificate applied for) in accordance with duty rates based on vehicle type/number of axles, etc.

Disc is issued to confirm payment, which must be displayed in windscreen. Failure to pay duty (or at wrong rate) can result in fines and need to pay back duty. See also GVED.

Source: David Lowe. The Dictionary of Transport and Logistics. Kogan Page, 2002. – P.268 (288 p.)


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