They alluded to the fact that at the moment they were 'including' VAT to ensure that they would not loose out when it came to shipping charges. They would look at this issue when they had a physical copy of the set.
However, the clincher to all this is the following statement:
Yes, we'll make a judgement on the day we get them, but you'll have to stand
by our decision. We aim to be fair, but as were about 50% cheaper on the
actual item than anybody else, we're not able to take any loss on postage.
This infers that the real price of the box set may be closer to 150 pounds as predicted by the Fan Club.