VAT rise good for fulfilment industry
Wednesday 23rd June 2010, 2:29PM BST.
PRODUCTS shipped to the UK from Guernsey using low value consignment relief should become more attractive following a rise in VAT, according to tax expert Graham Parrott.
The Ernst & Young partner (pictured) was commenting on the UK’s emergency Budget announced by Chancellor George Osborne yesterday lunchtime.
The programme of spending cuts and tax increases include a rise in VAT to 20% from 4 January.
Mr Parrott said fulfilment businesses that sent items such as CDs and DVDs worth less than £18 to the UK without attracting VAT using the consignment relief system would therefore stand to benefit.
Regarding the variety of other measures introduced, he said the moves the coalition government had made were very predictable.
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I also hear that carriage charges are going up to 20% from 4 January.
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