But transitional period means no tax until 1 November 2008
According to the chancellor’s budget statement last week, duty on fuel used for private pleasure boating or private pleasure flying will, from November 1, 2008, ‘no longer benefit from the reduced and exempt rates of duty currently in effect’.
The statement went on to say ‘there will be formal consultation on the implementation of the new regime later this year’.
‘I am pleased that the government has listened to our case for a lengthy transitional period in order for industry to manage the infrastructure changes that will be required,’ said Howard Pridding, executive director of the British Marine Federation (BMF). ‘The implementation date of November 1, 2008 will give marine businesses the time to plan and budget for that change. We will continue to work with government over the coming months as they develop the detail of the new legislation.’