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UK raises Intrastat threshold

  • Dec 11, 2014 | Richard Asquith

UK raises Intrastat threshold

The UK is to raise the annual reporting threshold for Intrastat reporting.

The limit for Arrivals (goods arriving from other EU member states) is being raised from £1.2m to £1.5m. The limit for Dispatches (goods leaving the UK for other EU member states) will remain unchanged at £250,000.

Intrastat is the reporting regime accompanying VAT. It requires VAT registered companies shipping goods across EU borders to list each movement. Details to be declared include the nature and value of the goods, and the destination. Aside from goods dispatched, companies may also have to complete a similar return for goods sent to them.

The tax authorities use the Intrastat to help detect VAT fraud, comparing the declarations of each company to ensure stock movements actually do take place.

VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax Richard Asquith
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. He is part of the European leadership team which won International Tax Review's 2020 Tax Technology Firm of the Year. Richard trained as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.