Revenue and Customs Brief 47 (2014): changes to the Intrastat arrival threshold from 1 January 2015
Published 10 December 2014
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Purpose of this brief
The purpose of this brief is to explain how businesses trading in goods with other EU member states, who are required to submit Intrastat arrival (EU imports) declarations, will be affected by a change to the Intrastat arrivals threshold from 1 January 2015.
Who should read this brief
VAT-registered businesses that are required to submit declarations of arrivals trade received from other EU member states.
Changes to Intrastat arrivals threshold from 1 January 2015
From 1 January 2015 the exemption threshold for arrivals will increase from £1,200,000 to £1,500,000.
The exemption threshold for dispatches (EU exports) remains unchanged at £250,000.
Background
Information on trade in goods between EU member states is collected by the Intrastat system. Member states are required by EU legislation to review annually their Intrastat exemption thresholds, below which businesses involved in such trade aren’t required to submit Intrastat declarations.
All VAT-registered businesses are required to declare the value of their intra-EU trade in goods on their VAT returns. Businesses with an annual intra-EU trade above the thresholds (applied independently to arrivals and dispatches) are required to provide more detailed statistical returns.
The value of the thresholds are reviewed annually by HM Revenue and Customs (HMRC) to:
- accurately match the percentage coverage of the value of intra-EU trade required by EU legislation
- ensure that the number of businesses required to submit monthly information is minimised
Following the annual review HMRC is able to increase the arrivals threshold from £1,200,000 to £1,500,000. The same review calculated that we should maintain the dispatches threshold at £250,000 to ensure we maintain the legislated percentage coverage for dispatches.
Further information
Further information on Intrastat can be found on the UKtradeinfo website and on GOV.UK.