New Import VAT rate January 2011

The new Import VAT rate of 20% comes into force 4th January 2011.

The application of this rate is on goods that clear Customs after midnight on the 3rd. It doesn't matter when the goods were ordered.
For example, an item may be ordered over the internet on the 2nd but if it hasn't cleared Customs point of despatch by Guernsey Post until 4th January (12.01am) , the rate of Import VAT will increase from 17.5% to 20%.