|
VAT-free Imports From The Channel Islands
VAT-free imports from the Channel Islands were imports into the United Kingdom from the neighbouring Channel Islands that were exempt from value added tax (VAT), a European Union purchase tax. The exemption was a result of low-value consignment relief (LVCR), a tax relief that applies to low-valued imports into the EU. The UK was a member of the EU from 1973 until Brexit in 2020, but the Channel Islands never became a part of the EU and they did not charge VAT on purchases. Once the UK government had applied LVCR to imports from the Channel Islands, distribution centres were set up and many low-valued goods were exported. The practice was unilaterally brought to an end by HM Treasury in April 2012. Background Low-value consignment relief When goods are imported into the EU from a non-EU territory, they are generally subject to VAT. (The VAT rate in the UK for most goods has been 20% since 2011). However, as a result of EU Council Directive 2009/132/EC, an optional exception is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Channel Islands
The Channel Islands ( nrf, Îles d'la Manche; french: îles Anglo-Normandes or ''îles de la Manche'') are an archipelago in the English Channel, off the French coast of Normandy. They include two Crown Dependencies: the Bailiwick of Jersey, which is the largest of the islands; and the Bailiwick of Guernsey, consisting of Guernsey, Alderney, Sark, Herm and some smaller islands. They are considered the remnants of the Duchy of Normandy and, although they are not part of the United Kingdom, the UK is responsible for the defence and international relations of the islands. The Crown dependencies are not members of the Commonwealth of Nations, nor have they ever been in the European Union. They have a total population of about , and the bailiwicks' capitals, Saint Helier and Saint Peter Port, have populations of 33,500 and 18,207, respectively. "Channel Islands" is a geographical term, not a political unit. The two bailiwicks have been administered separately since the late ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Far East
The ''Far East'' was a European term to refer to the geographical regions that includes East and Southeast Asia as well as the Russian Far East to a lesser extent. South Asia is sometimes also included for economic and cultural reasons. The term first came into use in European geopolitical discourse in the 15th century, particularly the British, denoting the Far East as the "farthest" of the three "Easts", beyond the Near East and the Middle East. Likewise, during the Qing dynasty of the 19th and early 20th centuries, the term "Far West (Taixi), Tàixī ()" – i.e., anything further west than the Arab world – was used to refer to the Western countries. Since the mid-20th century, the term has mostly gone out of use for the region in international mass media outlets due to its eurocentric connotations.Reischauer, Edwin and John K Fairbank, ''East Asia: The Great Tradition,'' 1960. The Russian Far East is often excluded due to cultural and ethnic differences, and is often cons ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of Jersey
The economy of Jersey is a highly developed social market economy. It is largely driven by international financial services and legal services, which accounted for 39.5% of total GVA in 2019, a 4% increase on 2018. Jersey is considered to be an offshore financial centre. Jersey has the preconditions to be a microstate, but it is a self-governing Crown dependency of the UK. It is considered to be a corporate tax haven by many organisations. Other sectors include construction, retail, agriculture, tourism and telecommunications. Before the Second World War, Jersey's economy was dominated by agriculture, however after liberation, tourism to the island became popular. More recently, the finance industry recognised worth in operating in Jersey, which has now become the island's dominant industry. In 2017, Jersey's GDP per capita was one of the highest in the world at $55,324. In 2019, the island's economy, as measured by GVA, grew by 2.1% in real terms to £4.97 billion. In Decembe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Value-added Tax (United Kingdom)
In the United Kingdom, the value added tax (VAT) was introduced in 1973, replacing Purchase Tax, and is the third-largest source of government revenue, after income tax and National Insurance. It is administered and collected by HM Revenue and Customs, primarily through the Value Added Tax Act 1994. VAT is levied on most goods and services provided by registered businesses in the UK and some goods and services imported from outside the UK. The default VAT rate is the standard rate, 20% since 4 January 2011. Some goods and services are subject to VAT at a reduced rate of 5% (such as domestic fuel) or 0% (such as most food and children's clothing). Others are exempt from VAT or outside the system altogether. VAT is an indirect tax because the tax is paid to the government by the seller (the business) rather than the person who ultimately bears the economic burden of the tax (the consumer). Opponents of VAT claim it is a regressive tax because the poorest people spend a higher pr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Value Added Taxes
A value-added tax (VAT), known in some countries as a goods and services tax (GST), is a type of tax that is assessed incrementally. It is levied on the price of a product or service at each stage of production, distribution, or sale to the end consumer. If the ultimate consumer is a business that collects and pays to the government VAT on its products or services, it can reclaim the tax paid. It is similar to, and is often compared with, a sales tax. VAT is an indirect tax because the person who ultimately bears the burden of the tax is not necessarily the same person as the one who pays the tax to the tax authorities. Not all localities require VAT to be charged, and exports are often exempt. VAT is usually implemented as a destination-based tax, where the tax rate is based on the location of the consumer and applied to the sales price. The terms VAT, GST, and the more general consumption tax are sometimes used interchangeably. VAT raises about a fifth of total tax revenues bo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Her Majesty's Revenue And Customs
, patch = , patchcaption = , logo = HM Revenue & Customs.svg , logocaption = , badge = , badgecaption = , flag = , flagcaption = , image_size = , commonname = , abbreviation = , motto = , formed = , preceding1 = Inland Revenue , preceding2 = HM Customs and Excise , dissolved = , superseding = , employees = 63,042 FTE , volunteers = , budget = (2018–2019) , country = United Kingdom , constitution1 = Commissioners for Revenue and Customs Act 2005 , speciality1 = customs , speciality2 = tax , headquarters = 100 Parliament Street, London, SW1A 2BQ , sworntype = , sworn = , unsworntype = , unsworn = , minister1name = Andrew Griffith MP , minister1pfo = Economic Secretary to the Treasury and mi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Philip Ozouf Jr
Philip Ozouf is a Jersey politician who is currently serving as the Minister for External Relations and Financial Services and a Deputy for the Parish of St Saviour. He was a member of the States of Jersey from 1999 until 2018, serving as Economic Development Minister, Treasury and Resources Minister, and Assistant Chief Minister in the Council of Ministers. Early life and education Philip Francis Cyril Ozouf was born in Jersey. He is the son of farmer and former Connétable of Saint Saviour Philip Francis Ozouf. He was educated at Victoria College, Jersey, then attended the European Business School in London, Frankfurt and Paris; he gained a BA (Hons) International Business and French Equivalent. He also qualified to diploma stage of the Chartered Institute of Management Accountants. He describes himself as a "reasonably fluent" French, German and Spanish speaker. Electoral history He was elected to the States of Jersey as a Deputy for Saint Helier District 3&4, in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Condor Ferries
Condor Ferries is an operator of passenger and freight ferry services between The United Kingdom, Bailiwick of Guernsey, Bailiwick of Jersey and France. Corporate history Condor Ferries established the first high-speed car ferry service to the Channel Islands from Weymouth in 1993 using the 74m Incat catamaran ''Condor 10''. In the winter of 1993/1994, Condor's parent company, Commodore Shipping, took over British Channel Island Ferries (BCIF) which operated conventional ferry services to the Channel Islands from Poole. Upon taking over BCIF, Condor moved all passenger services to Weymouth and the BCIF freight service was transferred to Commodore Shipping. The BCIF vessel ''Havelet'' ran a conventional ferry service from Weymouth from 1994 alongside the ''Condor 10''. New UK bases, purchase of the ''Havelet'' and ''Condor Vitesse'' In March 1997, Condor moved its UK port to Poole. The ''Condor Express'' suffered technical problems that led to late-running services. As ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Royal Mail
, kw, Postya Riel, ga, An Post Ríoga , logo = Royal Mail.svg , logo_size = 250px , type = Public limited company , traded_as = , foundation = , founder = Henry VIII , location = London, England, UK , key_people = * Keith Williams (Non-executive Chairman) * Simon Thompson (CEO) , area_served = United Kingdom , industry = Postal services, courier , products = , services = Letter post, parcel service, EMS, delivery, freight forwarding, third-party logistics , revenue = £12.638 billion(2021) , operating_income = £611 million (2021) , net_income = £620 million (2021) , num_employees = 158,592 (2021) , parent = , divisions = * Royal Mail * Parcelforce Worldwide , subsid = * General Logistics Systems * eCourier * StoreFeeder * Intersoft Systems & Programming , homepage = , dissolved = , footnotes = International Distributions Services plc (formerly Royal Mail plc), trading as Royal Mail, is a British multinational postal ser ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Derogation
Derogation, in civil law and common law, is the partial suppression of a law. In contrast, annulment is the total abolition of a law by explicit repeal, and obrogation is the partial or total modification or repeal of a law by the imposition of a later and contrary one. It is sometimes used, loosely, to mean abrogation, as in the legal maxim ''lex posterior derogat priori'' ("a subsequent law derogates the previous one"). The term is also used in Catholic canon law,Manual of Canon Law, pg. 69 and in this context differs from dispensation in that it applies to the law, whereas dispensation applies to specific people affected by the law. Statutory interpretation Under the derogation cannon of statutory interpretation "statutes in derogation of the common law" should be narrowly construed. Terrorism A UK law permitting warrantless arrest and detention on suspicion of terrorist involvement was found to violate protected rights, according to the ECHR decision in '' Brogan v. The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Forum Of Private Business
The Forum of Private Business or The Forum (The FPB) is a UK-based membership organisation which campaigns for the interests of small and medium-sized businesses. A member-funded organisation, it offers practical business advice and help, as well as offering a range of products and services to help its members save money. The Forum was established in 1977, is a non-party political organisation and represents over 25,000 UK businesses. Background The Forum (the FPB) was founded by Stan Mendham in 1977. Previously, Mendham had run an engineering business but was becoming increasingly concerned by the lack of understanding of smaller businesses in the economy and mounting red tape. He studied member-based organisations for smaller businesses in America and Canada, and decided to create a British equivalent. Mendham wanted the FPB to always represent accurately the views of its members. To do this, he started an approach to campaigns based on information collected through regular s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
British Phonographic Industry
British Phonographic Industry (BPI) is the British recorded music industry's Trade association. It runs the BRIT Awards, the Classic BRIT Awards, National Album Day, is home to the Mercury Prize, and co-owns the Official Charts Company with the Entertainment Retailers Association, and awards UK music sales through the BRIT Certified Awards. Structure Its membership comprises hundreds of music companies including all three "major" record companies in the UK (Warner Music UK, Sony Music UK, & Universal Music UK), and over 450 independent record labels and small to medium-sized music businesses. The BPI council is the management and policy forum of the BPI. It is chaired by the chair of BPI, and includes the chief executive, chief operating officer (COO) and the general counsel. In addition it includes 12 representatives from the recorded music sector, six from major labels, two each from the three major companies, and six from the independent sector, which are selected by votin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
