Channel Island VAT loophole closure to be announced this week

This is Money reports that The Chancellor is expected to completely close the Low Value Consignment Relief scheme, which allows retailers with a Channel Islands base to avoid paying VAT on goods with a value of £15 or less,

Critics of the scheme have said that it has led to thousands of mainland retailers going under thanks to a competitive disadvantage.

Richard Allen of Retailers Against VAT Avoidance Schemes (RAVAS), which has spearheaded the drive to close the tax loophole ...

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