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Tag Archives: tax

HMV slams ‘idiotic’ offshore tax dodging

It is ‘absolutely nuts’ online retailers can avoid tax so easily, says HMV. The Government is closing down the Channel Island tax loophole from April, but HMV CEO Simon Fox says this doesn’t go far enough. He believes that HMV’s big name online rivals such as Play, The Hut and …

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ANALYSIS: Channel Island tax dodge

When Play.com took advantage of the Channel Island tax relief back in 1998, it changed UK online retailing overnight. Low-Value Consignment Relief (LVCR) meant that any goods sold from the Channel Islands under 18 didn’t have to pay VAT. That included DVDs, CDs and budget games. And with Play.com based …

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Tax dodgers flee Channel Islands

Online entertainment retailers are preparing to leave the Channel Islands after the UK Government said it will close the VAT loophole next April. MCV understands online retail behemoths may move to Asia, Switzerland and even the US to avoid paying tax on CDs, DVDs and some games. For years, campaigners …

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Trip Hawkins in trouble with the tax man

A San Francisco judge has rejected Trip Hawkins’ plea to use personal bankruptcy to cancel $20m of tax obligations. According to a Forbes blog, US District Court judge Jeffrey S White has upheld an earlier bankruptcy court ruling related to tax shelters Hawkins used to shield the personal wealth he …

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Budget delivers warning shot to Jersey traders

The tax loophole that has for so long allowed key online retailers to offer cheaper games is under threat. It’s a practice that has been under the spotlight since as long ago as 2005. Chancellor George Osborne has announced as part of today’s budget that the Government will consult on …

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Tax breaks hopes fade

The culture minister, Ed Vaizey, has claimed his department will resist calls for game tax breaks in what he calls a three or four year hiatus”. That would suggest the Coalition Government won’t promise state support for the British games industry until the next election looms. The Conservative Party, of …

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