The Treasury is expected to close a tax loophole that retailers have argued gives online giants such as Shein an unfair advantage over high street chains, as chancellor Rachel Reeves looks to shore up the public finances.
Currently overseas retailers are allowed to send small packages worth less than ￡135 to the UK without being charged import duties, a loophole that industry experts claim costs the exchequer up to ￡600mn a year.
One government official said closing the loophole was “nailed on” for Reeves’ Budget on November 26, while another said: “You can expect to see some movement on this.”
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