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Thousands of UK car owners could be facing the loss of a tax loophole, it has been warned.

The long-standing Vehicle Excise Duty (VED) tax exemption for classic cars in the UK was introduced by David Cameron's government back in 2014.

But now there are fears it may be a thing of the past as it could be scrapped during the next Budget.

The so-called loophole allows cars older than 40 years to avoid paying VED fees.

It was designed to support classic car enthusiasts and help preserve historic vehicles with the current rules in 2025 allowing cars built in 1985 to qualify for the exemption.

Shadow Transport Secretary Richard Holden expressed concerns that Labour, led by Rachel Reeves as Shadow Chancellor, could potentially remove the 40-year Vehicle Excise Duty exemption as pa

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