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The Government has announced that collection of the HGV Road User Levy will be suspended for 12 months from 1 August 2020.Introduced in 2014, the levy is charged as a contribution to the wear and tear of the road network and was redesigned in 2019 to better meet the environmental objective of improving air quality. The levy amount varies across vehicles depending on weight and axle configuration.
The suspension has been introduced to give some financial relief to hauliers in recognition of the difficulties faced by the sector during the pandemic.
Hauliers from outside the UK will also benefit from the levy suspension.
Fleet managers do not need to do anything. A levy rate of zero will automatically apply at a vehicle’s normal VED/levy renewal date from August onwards so that each vehicle will benefit from 12 months of the discounted rate.
HM Treasury announcement. https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/895360/HGV_Levy_Suspension_final.pdf
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EURO COMMERCIALS LIMITED is an Appointed Representative of Automotive Compliance Ltd who is authorised and regulated by the Financial Conduct Authority (FCA No. 497010). Automotive Compliance Ltd’s permissions as a Principal Firm allow EURO COMMERCIALS LIMITED to act as a credit broker, not a lender, for the introduction to a limited number of lenders.
We are a credit broker and not a lender. We can introduce you to a lender on our panel, which includes Mercedes-Benz Finance, the lender of our vehicle manufacturer. We have commercial arrangements with lenders and credit brokers which are likely to influence who we introduce you to. We are not an independent financial adviser and don’t give you any advice or recommendations. It is your choice whether you enter into any finance agreement.
Our approach is to introduce you first to the manufacturer’s lender Mercedes-Benz Finance, linked to the franchise offering you the vehicle. They will usually offer the best available package for you, taking into account both interest rates and other contributions (but we do not guarantee they do). If they are unable to offer finance, we then seek to introduce you to someone else on our panel. We will usually receive a commission for your introduction. This will be either a fixed fee, or a fixed percentage of the amount that you borrow. This may be linked to the vehicle model you choose.
Mercedes-Benz Finance may also provide preferential rates to us for the funding of our vehicle stock and also provide financial support for our training and marketing. But any such amounts they and other lenders pay us will not affect the amounts you pay under your finance agreement. Before we propose you to a potential lender, we will tell you of the likely amount of commission we will receive and seek your consent to receiving this commission. The exact amount of commission will be confirmed before you sign your finance agreement.
All finance applications are subject to status, terms and conditions apply, UK residents only, 18s or over. Guarantees may be required.
