VATLive > Blog > VAT > UK raises 2014 Intrastat reporting thresholds - Avalara

UK raises 2014 Intrastat reporting thresholds

  • Jan 4, 2014 | Richard Asquith

UK raises 2014 Intrastat reporting thresholds

The United Kingdom has updated the annual reporting thresholds for dispatches and arrivals of goods on Intrastat declarations from 1 January 2014.

The thresholds will rise as follows: the arrivals’ (import of goods from other EU member states threshold will rise from GBP600,000 to GBP1,200,000 per annum; and the dispatches’ (exports to other EU member states) annual threshold will remain as GBP250,000.  The delivery terms threshold will also rise to GBP24million – this triggers additional disclosures of the terms the goods where sent to a customer.

The changes to the UK’s thresholds is based on an EC-set formula, which was amended in 2013 to only require member states to capture 93% of their estimated trade with other EU states.  It had previously been 95%.

UK Intrastat requirements

The UK’s tax office, the HMRC, requires taxable persons to prepare monthly declarations of intra-community trading with any other taxable person (including movements within the same company or group) – Intrastat.  This is in accordance with the EU VAT Directive.

It must be completed monthly (UK VAT returns are quarterly), and be filed by the 21st of the month following the reporting period end.  Filings can be made through paper & post; online; or via data uploads.

For the UK, the following information is required:

  • The EU country of destination or arrival
  • Commodity code and description
  • Weight, description and quantity of goods
  • Value of goods for invoicing purposes
  • Delivery terms where the thresholds is exceeded
  • Delivery Terms threshold

VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax Richard Asquith
Richard Asquith is the former VP Global Indirect Tax at Avalara