Low Value Consignment Relief (LVCR)

Low Value Consignment Relief (LVCR) may sound very technical, but did you know that if you have ever bought CDs, DVDs, printer cartridges or even health food supplements from the Channel Islands, LVCR has probably saved you VAT? LVCR currently means imported goods worth less than £15 escape VAT, but in November the Treasury announced it would be scrapping LVCR from 1 April 2012 for goods sent from the Channel Islands.

That will affect not just the Channel Island websites, such as Play.com, but also many High Street names that sell CDs and DVDs online via the Channel Islands. So if your music and movie collection needs additions, act soon!