Starting April 2025, the UK will impose a £425 annual "luxury tax" on EVs costing over £40,000, alongside a standard vehicle excise duty (VED) of £195 per year. Critics argue the tax, impacting 70% of new EVs, unfairly penalizes buyers of mid-range models and could deter EV adoption. Industry leaders call for incentives, like reduced VAT on public charging and scrappage schemes, to encourage the switch to greener vehicles. Source article https://www.thetimes.com/article/72afb921-27a5-47fd-a2f3-b3d43e195455?shareToken=03c3a965564a8da9d6201b1a96879d3a