GVED

GVED

1) Graduated vehicle excise duty. Reduced rate of VED payable by car owners whose vehicles are considered to be less polluting and therefore more environmentally friendly.

It applies from 1 March 2001 to those vehicles not exceeding 1200 cc, but from 1 July 2001 vehicles up to 1549 cc engine capacity which fall into newly designated ‘emissions bands’ A, B, C and D and depending on the type of engine (eg petrol, diesel or alternative fuel).

Source: David Lowe. The Dictionary of Transport and Logistics. Kogan Page, 2002. – P.110 (288 p.)