According to this morning's Sunday Times the forthcoming budget will close the VAT loophole that enables the supermarkets and online stores to avoid paying VAT on CDs, DVDs and Blu-Rays that retail for under £18, by shipping the product from offshore companies based in Jersey and Guernsey.
New legislation will be introduced to reduce the "no VAT" limit from its current £18 limit to £8, meaning that most titles will now be subject to 20% VAT and are likely to rise in price accordingly.
Blog and podcast feed for the weekly Blu-Ray review show from the UK, presented by Ian Smith. Each week I review the latest releases and give a run-down of the Top 10 Best-selling Blu-Rays in the UK for the previous 7 days.
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