You might have seen our Chairman, Carl Walker in the news recently, following a Government announcement to go ahead with plans to lower the ‘de minimis’ threshold to £60 on 1 July.

It has emerged that consumers will pay GST on all orders from those retailers who've agreed with the Government to charge GST on their behalf. The full list of those retailers hasn’t been published, but is understood to include Amazon, Hello Fresh, Very and eBay. Those retailers will collect GST when consumers pay for their goods – even if they cost well below the new £60 online shopping tax threshold.

It’s difficult to argue against the principle of introducing GST to online shopping, but consumers may not be aware that this latest reduction would result in certain online retailers charging GST on everything, even if it falls below the de minimis.

Our Chairman said: "This is going to really contribute to the difficulties that people are facing at the moment.

“I think people were ready for the de minimis to lower and eventually be phased out, but this is an unwanted surprise.”

Keep an eye on the prices of your staple items by using our Price Comparison website.

We also have a Budget Tool to help you work out your finances.