Coalition chancellor George Osborne reduced the threshold under which goods shipped into the UK from Jersey escape VAT from £18 to £15 – which will come into force in November – but he also said the UK government would work with the European Union to avoid the ‘exploitation’ of the tax relief that makes shipping goods such as CDs and contact lenses from the Channel Island so attractive.
The response of Jersey’s internet retail industry to the UK Budget has been guarded.
• See Thursday’s JEP for the response
