Online CL prices rise as VAT relief ends

Internet contact lens prices have already risen as a result of the removal of the VAT loophole created by the low value consignment relief (LVCR) from April 1.

In 1983 LVCR was introduced to speed up deliveries from firms outside the EU of small items and prevent time and money being wasted by the tax authorities. A boom in internet shopping has seen a fulfilment industry spring up in the Channel Islands based around CDs, memory cards, spectacles, contact lenses and other items.

The Chancellor announced the scrapping of LVCR on goods shipped from outside the EU last year following pressure from UK-based retailers and a subsequent appeal was rejected in London's High Court last week (News 23.03.12).