A PREDICTION by UK Chancellor George Osborne that scrapping VAT relief on cheap goods sent from the Channel Islands would claw back £90m. next year has been called ‘optimistic’ by Commerce and Employment.

THE pressure that faces UK Chancellor George Osborne to come up with a Plan B approach to the UK economy provides a counterpoint to the situation this island finds itself in.

THE Chancellor of the Exchequer has sent out another strong message that he intends to limit further the ability of the Channel Islands to send goods VAT-free to the UK.

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.