UK [updated 16:50BST]: Tax rise will average GBP300 for new car

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The 4 January rise in UK value added tax (VAT, effectively a sales tax) from 17.5% to 20% imposed in today's emergency post-election budget will add about GBP300 to the average price of a new car, the Society of Motor Manufacturers and Traders (SMMT) told just-auto on Tuesday. Full story...