British shoppers heading across the Atlantic to the United States have been warned by HM Revenue and Customs that they must declare gifts bought in the US totalling over £145. Officials warn that if shoppers fail to declare their gifts and pay the required duty, they risk prosecution, which is rather a pity as the US/£ exchange rate is the best it has been in years. Up to 20% duty can be levied on goods and on some items an additional VAT at 17.5% must also be paid.