Intrastat declarations
- 6th June 2018
- Posted by: admin
- Category: News
Intrastat declarations are used to collect information on the movement of goods from the UK to other EU countries and vice versa. Any business that exceeds the exemption threshold for either arrivals or dispatches of goods, is obliged to submit monthly returns.
Businesses with annual EU trade above the delivery terms threshold, are required to supply additional information relating to delivery terms on their statistical returns. The exemption threshold for arrivals is currently £1.5 million. The exemption threshold
for dispatches (EU exports) is £250k.
HMRC has published an updated version of Notice 60, The Intrastat General Guide. The updated version of the guide reflects a change to the guidance for correcting an error on an old Intrastat Supplementary Declaration. The notice is intended as
a general guide to Intrastat for businesses trading in goods with other member states of the EU.
There is a low value consignments threshold where transactions with a value of £175 or less can be aggregated and classified to a single commodity code. Intrastat filings must be made electronically. The deadline for submission is the 21st day, of each month
following the end of the period to which the declarations relate e.g. the May return is due by 21 June 2018.
Source: New feed