Delivering the budget on Wednesday, the Chancellor said that from
November, Low Value Consignment Relief (LVCR) will be reduced
from £18 to £15. The move seeks to “curb the
abuse” of a tax loophole that allows businesses operating
out of the Channel Islands to sell goods with a value of less
than £18 without VAT. More on the story from the Telegraph and the Guardian.
Stanley Gibbons, the stamps and collectibles
specialist, reports that sales in the year ended 31st December
rose 13 percent to £26.4 million. Adjusted pretax profit,
before exceptional charges, was also on the increase-up 8 percent
to £4.5 million. For more on Stanley Gibbons’ plans for 2011
see the March issue of
Catalogue e-business.
Entertainment-products retailer HMV has
confirmed it is in talks to sell the business. The company also
says it is “exploring strategic options” for its
Waterstone’s bookstore chain and its HMV Canada
business.
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