The reporting of vehicle price to the DVLA is an important part of the new VED system and will determine how much duty is paid. Customers buying new cars from March 2017, worth over £40,000 per year, will be required to pay an additional £310 supplement per annum for the first five years, on top of the £140 standard rate, after the first year of keepership.
A new versions of the V55/1 and V55/2 forms will include fields that require motor retailers to report the list price in pounds and pence (or notional price for cars not introduced into the UK market). This should include non-standard options fitted by the manufacturer, delivery charges, pre-delivery inspection costs and VAT. It will also include the cost of any battery if leased separately for electric cars. If the price of the vehicle changes since the form was issued then dealerships will be required to apply a 'revised list price/notional price' in a separate field on the form.
Users of AFRL co-op systems to register vehicles will receive more information from their manufacturers about how list price should be recorded. Registrations made by the AFRL web system, like the V55 forms, will include an additional list price field.