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Old 21 March 2007, 12:51   #1
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For the tax free stink pots...

BMF Member Special Edition - Red Diesel Update

BMF & RYA WELCOME BUDGET ANNOUNCEMENT ON RED DIESEL

The British Marine Federation (BMF) and RYA have today welcomed the Government's proposals for the implementation of the new regime for duty payments on red diesel used by private recreational craft.

In today's Budget statement (Wednesday 21 March) the Chancellor announced plans to implement the ending of the derogation on fuel duty, in line with the recent EU directive. From 1 November 2008 fuel used for the purposes of private pleasure boating will no longer benefit from the current reduced and exempt rates of duty. In addition, a formal consultation on new regimes will be held later in the year.

The Chancellor's decision means that the current infrastructure for diesel fuel storage and sale can remain in place until 1 November 2008.

"We welcome the decision to consult on the new regime and to keep existing arrangements in place during the consultation period" says the RYA's Government Affairs Advisor, Neil Northmore, who has led the Association's involvement in the campaign. "While Brussels' original decision to end the derogation was disappointing, the UK Government has listened to our concerns."

BMF Executive Director Howard Pridding commented "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. The implementation date of 1 November 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."
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