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Will I pay £140 per year in tax from April 2017 onwards?

My old Honda CR-V is due a new road fund licence at the end of the month and will cost £265 for 12 months. However, the rate changes on 1 April 2017 to a cost of £140 for 12 months. Can I pay monthly for a few months and then pay £140 in April for a full year to April 2018? Alternatively am I able to buy a 6 month licence and renew under the new rules in July, or am I stuck with a full £265 for 12 months?

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The rate change in April is only for new cars first registered from April 2017. After the CO2 based first year VED, it will be £140pa from April 2018, plus £310pa a year for cars originally costing more than £40,000. Older cars stay in the same CO2 based VED bands but there has not yet been an announcement of the raised rates.

More detailed explanation here: www.honestjohn.co.uk/road-tax/budget-2015-new-ved-.../
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