Don't get too excited but the Import Duty threshold and VAT thresholds have been raised:
All goods imported into the UK from countries outside the European Union are subject to import duty and VAT at the rates applicable. However, import VAT is not payable on commercial consignments if the total value of the goods in the consignment does not exceed £18. This limit is raised to £36 for personal gifts between private individuals. If this tax was not applied, there would clearly be an unfair advantage to foreign businesses over UK trade.
With effect from 1 December 2008, customs duty will not be applied on goods with a value less than £105. |
In effect it's been doubled to £36 as customs duty rate depends on the item being imported and is typically about 5%. Why couldn't they raise both to £105 (especially with the weak GBP)?
04-12-2008
The Meeting Place
Linear Mode
