Businesses in the UK who sell small value items by mail order have long complained that they are undercut by shipments coming in from the Channel Islands. This is due to the operation of low value consignment relief (LVCR), which exempts from VAT parcels coming into the UK from outside the EU, where the value of the goods is less than a prescribed limit. The Channel Islands are outside the EU, but close enough to the UK to make shipping relatively cheap.
The limit per parcel for LVCR was £18 for years, but it was reduced to £15 from 1 November 2011. HMRC have just announced that the LVCR will be removed altogether from 1 April 2012 for goods imported from the Channel Islands. This change should help UK based businesses, but will not help the distribution centres and flower growers in the Channel Islands!
Showing posts with label Glasgow accountants defacto fd fiona purves laura shah. Show all posts
Showing posts with label Glasgow accountants defacto fd fiona purves laura shah. Show all posts
Thursday, 1 December 2011
Tuesday, 15 September 2009
OKAY...This is our first steps into blogging, which is really an add on to the thoughts for the day section on our web site http://www.defacto-fd.co.uk/Publicsite/Services_blog_history.aspx.
Once I get the hang of this I or the team will be adding to it regularly, whether it be our thoughts for the day or just links to useful information that we think our clients or potential clients may find useful.
Have a successful week.
The team at defacto fd
Glasgow based chartered accountants
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