The banks may be unwilling to pass on their tax breaks, but at least the Government has one for internet shoppers importing goodies from outside the EU.
From next month, Her Majesty’s Revenue and Customs (HMRC) will only demand import duty on goods valued at £105 ($156/€123) or more. Currently you must – or should – pay the duty on anything you bring into the UK from outside the EU with a value of £18 ($26/€21) or above.
For example, buy a digital camera from a US website for £104 next month and there won’t be a penny of customs duty to pay. Anything more expensive will see you unable to retrieve your items from customers officers until you pay the duty, which varies according to the item and its value.
The Customs Duty changes take effect on 1 December. Everyone’s other favourite tax – VAT – remains unchanged, unfortunately, and still needs to be paid of applicable imports costing £18 or more.