This means Ultra Low Emissions Zone, which replaces London's Congestion Charge Zone. It will expand to include the whole North / South Circular area in 2021. Emissions non-compliant vehicles will be subject to a £12.50 daily charge
I was recently told that this would apply to all vehicles, with no exemptions for historic vehicles. Not being one to panic without due cause, I looked up ULEZ on TfL's website. It becomes clear that historic vehicles (ie over 40 years old) will be exempt from the low emissions requirement, and thus the daily £12.50 charge
You can check the discounts and exemptions on this page:
Now how will I cope with that when / if I get my project bike running? It has a 1986 McKintosh Manx frame
Your bike must be registered as Historic with the DVLA, if not daily fee applies no matter how old the vehicle is.
If you type in your registration to their check page it is supposed to tell you if you need to pay or not. But it does not work for the three I checked. I mailed them and they said 'if taxed as Historic, no ULEZ charge is payable, and you do not need to register it with them
I've not tested it yet...