Jersey businessman says budget marks 'fulfilment end'

View previous topic View next topic Go down

Jersey businessman says budget marks 'fulfilment end'

Post by GD on Wed 23 Mar 2011, 5:12 pm

The director of a Jersey health care company said the UK budget signalled the beginning of the end for the fulfilment industry.
Phil Balderson from Healthspark made the comments after UK Chancellor George Osborne's budget announcement.
The fulfilment industry allows companies in the island to sell VAT-free products to customers in the UK where VAT would normally apply.
Firms will now have to pay VAT to export items worth over 15 to the UK.'Good and bad'
The present maximum limit of Low Value Consignment Relief (LVCR) is 18.
Mr Balderson said: "It's good and bad, the guillotines been hoisted and it will fall."
UK Chancellor George Osborne also said that he would work with the European Commission to stop the relief being exploited from the Channel Islands and other places.
In the budget document, he said: "The government will explore options with the European Commission to limit the scope of the relief so that it can no longer be exploited for a purpose it was not intended for.
"The government will also revisit the level of the LVCR in Budget 2012, if discussions with the European Commission do not produce a workable solution to the problem of exploitation of the relief."
Jersey's Economic Development Minister, Senator Alan Maclean, said that more than 1,000 people are employed in the fulfilment industry across the Channel Islands.
Earlier this month, a debate in the House of Lords gained cross-party support to close the VAT loophole.
It was announced at the time that it costs the UK government 130m each year in lost tax.
The peer behind the motion, Lord Ralph Lucas, branded the industry a "smuggling enterprise". (from BBC)

The end is nigh...


......THE BOSS......

"Always be yourself because the people who mind don't matter, and the people who matter don't mind"

avatar
GD

Male
Number of posts : 10122
Location : Channel Islands
Job/hobbies : Website Forums...lol
Humor : Anything that makes me laugh
Registration date : 2008-03-06

http://www.vuedesisles.com

Back to top Go down

Re: Jersey businessman says budget marks 'fulfilment end'

Post by Spirit on Wed 23 Mar 2011, 6:00 pm

They will soon be moving to China.


"The further the spiritual evolution of mankind advances, the more certain it seems to me that the path to genuine religiosity does not lie through the fear of life, and the fear of death, and blind faith, but through striving after rational knowledge."
avatar
Spirit

Male
Number of posts : 3053
Location : around the bend
Registration date : 2008-04-21

Back to top Go down

View previous topic View next topic Back to top

- Similar topics

 
Permissions in this forum:
You cannot reply to topics in this forum