I had already planned to do this - surrender the tax discs for refund for both our cars at th end of January and re-tax them on the 1st of Feb. AFAIK the new rates kick-in in March '09 (can anyone confirm that?).
I reckon that'll save us about £300!
EDIT to add...
I've just done some research on this. Downloaded the budget statement (PDF
here). The new rates/bands kick in on 1st April 2009 (page 121), but they've also sneaked in a killer on page 72 of the same report...
[quote = "robbing bastards"]Budget 2008 announces that vehicle excise duty (VED) refunds will be restricted to
the registered keeper of a vehicle and applicable only when a vehicle has: been stolen,
destroyed, sold or otherwise disposed of; become eligible for a nil licence; been declared as
statutorily off-the-road; or been permanently exported. This will help ensure that motorists
cannot avoid paying a pre-announced rate of VED.[/quote]
Elsewhere I have found out that the above rules will be implemented from 1st January 2009, so that has scuppered my original plan. So, I've concocted Plan B, which is to surrender both discs for refund at the end of this month and apply for two 6 month discs which will expire 1 month before the new rates kick in. It'll cost me an extra £21 but the saving will be nearly £300 net.