| HMRC have announced
significant changes to the Intrastat
thresholds. Intrastat is used to report
the movement of goods within the EU over
certain thresholds. Those traders with an
annual intra-EU trade in goods exceeding
the exemption thresholds are required to
provide monthly statistical returns (Intrastat
Supplementary declarations).
From 1 January 2010, subject to
parliamentary approval:
- the exemption threshold for arrivals
will be increased from £270,000 to
£600,000 and
- the exemption threshold for
dispatches will be reduced from £270,000
to £250,000.
The significant change in the arrivals
threshold is due to a reduction in the EU
minimum requirement for Member States to
collect data from 97 to 95%.
The threshold for dispatches has been
reduced to £250,000 due to the current
economic downturn and the consequent
reduction in the number of UK businesses
trading within the EU.
If you would like any advice as to how
this change affects your business please
do get in touch.
Internet link:
HMRC Brief |
