UK Set to End Tax Advantage for Online Retailers in Budget Overhaul
The UK Treasury is preparing to eliminate a tax loophole that has given overseas retailers including Shein and Temu significant pricing advantages over British high street chains. According to reports, the change could generate up to £600 million annually in additional revenue while level the playing field for domestic retailers.
Budget Move Targets Import Duty Disparity
The Treasury is reportedly preparing to close a significant tax loophole that has allowed overseas online retailers to avoid import duties on small packages, according to government sources familiar with the matter. Chancellor Rachel Reeves is said to be targeting the measure as part of her November 26 Budget announcement as she seeks to strengthen public finances.
