Many consumers are really watching the pennies these days as the price of essentials continue on their upward trend. Lots of people look at varying ways to save a bit of money, and one of these looks to be ending. Today we have news that the days of cheap Blu-rays and DVDs are numbered as a tax loop hole is closed.
Many people purchase their Blu-rays and DVDs and other media from online retailers such as Amazon and Play.com. But now according to What Hi-Fi the British government is to close a tax loophole that allows such retailers to import these items from the Channel Islands in the UK.
From April 1st next year online retailers will no longer benefit from tax relief from the items they import in from the region. This is likely to lead to higher prices for consumers after this date. There has already been a change to the system this month as the Low Value Consignment Relief maximum, was lowered from £18 to £15 before going altogether next year.
The changes are allegedly being brought in so smaller and medium sized companies can compete with the larger outfits such as Amazon. It may be good news for the smaller businesses but it won’t please consumers who may be met with higher prices in these already tough times.
Hopefully the likes of Amazon and Play can reach out to places outside of the European Union as these areas won’t be affected by the changes. It does make you wonder if the changes are more for raking in more revenue from taxes though. Do these changes annoy you?