VAT - EU Reporting
Intrastat declarations
Businesses that make intra-EU transactions above the thresholds detailed below are required to provide HMRC with an Intrastat declaration (aka Supplementary Statistical Declaration) on a monthly basis.
The current thresholds are:
- Dispatches (exports to EU from UK) of £250,000 or more in a calendar year
- Arrivals (imports to UK from EU) of £600,000 or more in a calendar year
- Delivery terms of £16,000,000 or more – if the business’ EU trade exceeds this threshold, additional information is required on the Intrastat
With effect from 1 April 2012, Intrastat declarations must be submitted online, with the deadlines for submission moving from the last day of the following month to the 21st of the following month.
EC Sales lists
With effect from 1 January 2012, the threshold for monthly EC Sales lists (for a company that supplies goods to a VAT registered company in the EU) has decreased to £35,000 (from £70,000) based on the current or four previous quarters.
UK Businesses that provide services (that are subject to reverse charge in the customer’s country) will be required to provide quarterly EC Sales Lists; however, the business may choose to submit these monthly.
If a business falls within the threshold for monthly submissions due to their goods, they must make monthly submissions for all supplies.
Simon Anslow, our Director of VAT Services, will be pleased to assist if you have any questions.
