Online retail: Moonpig in tax setback

Friday 04 October 2013 01:29 BST

Your support helps us to tell the story

From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.

At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.

The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.

Your support makes all the difference.

The closure of a tax loophole has hit profits at online birthday and Christmas cards retailer Moonpig.

The ending last year of a policy that allowed low-value imports from the Channel Islands to avoid VAT hit profits and revenues at the company, which has a base in Guernsey. Profit for the year to end-April fell to £11.2m, from £12m in 2012, while revenue grew sluggishly to £46.4m, from £45.8m.

Despite the setback the board said it was "confident" that Moonpig would continue to grow.

Join our commenting forum

Join thought-provoking conversations, follow other Independent readers and see their replies

Comments

Stay up to date with notifications from The Independent

Thank you for registering

Online retail: Moonpig in tax setback

Join our commenting forum

Thank you for registering