October 1, 2014, sees the introduction of the new car tax system for the UK – and what I believe is one of the best-kept secrets in the UK at the moment. It’s important that both domestic and business vehicle owners understand the new system which for some reason we have largely been unaware of.

This ends a 93-year-old tradition of displaying that little white disc in the corner of our windscreens.

Whilst the price of tax seems to continue to rocket if you own anything above a 2.0 car, this age-old system is something we have all grown up with. But now, down to advancements in technology, it’s all about to change. No longer will we see traffic wardens wandering down the road gazing at our windscreens looking for that out-of-date disc.

The new system means that we will no longer need to display a tax disc.

Police vehicles are fitted with number plate recognition systems and will raise a flag when they identify a vehicle without any road tax, so dodgers beware.

The system seems fairly straightforward although there are some changes we need to be aware of.

You will still receive a reminder in the post when your road tax is due.

You can still pay online, by post or in a post office. You just won’t get that little white disc you so carefully have to tear without ripping the disc itself.

You can also now pay monthly by direct debit, with only a 5 per cent surcharge on the total cost, making this a cheaper option than the six-month renewal.

The major difference comes when you sell your vehicle; no longer will you be able to sell your car with any remaining tax.

When you notify DVLA you are selling your car or it’s scrapped or off the road you will receive a refund on the remaining tax. Buyer beware – no longer will you buy a car with any existing tax.

So here ends an old tradition we have all grown up with.

The Government say it will be a cheaper system to manage and administer. I for one won’t miss that disc I have to stick in the windscreen.