Accountants in Wimbledon – Automated Vehicles Act brings self-driving vehicles closer to reality
Self-driving vehicles are set to be on British roads by 2026 following the enactment of the Automated Vehicles (AV) Act. Get in touch with our Wimbledon accountants to understand how this new technology may impact your business.
Automated vehicles are expected to improve road safety by reducing human error, which is estimated to be responsible for 88% of road collisions. The AV Act, first announced in the King’s Speech of November 2023, aims to position the UK as a leader in self-driving technology regulation. Government estimates suggest this will potentially unlock a £42 billion industry and create over 38,000 skilled jobs by 2035.
Get in touch with our Wimbledon accountants to explore how your business can benefit from these advancements and navigate any regulatory changes.
The legislation mandates that self-driving vehicles must meet high safety standards at least equivalent to careful and competent human drivers and includes rigorous safety checks before vehicles are road-ready. This could significantly reduce accidents caused by drink driving, speeding, fatigue, and inattention.
Self-driving vehicles may also help address driver shortages, such as those experienced by the haulage industry, and could have real value in mining and other industries where work is dangerous.
The AV Act follows successful trials by British companies like Wayve and Oxa, which are testing self-driving cars in London and Oxford. Transport Secretary Mark Harper hailed the law as a milestone for the self-driving industry, expecting that self-driving vehicles will enhance travel safety and boost the economy.
Key industry figures, including Paul Newman of Oxa and Alex Kendall of Wayve, praised the Act for its rigorous standards and its potential to establish the UK as a global leader in autonomous vehicle technology.
Get in touch with our Wimbledon accountants to ensure your business is prepared for the economic and regulatory impacts of self-driving vehicles.
For more information, see: Government News on Self-Driving Vehicles.