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UK Intrastat threshold arrivals to be changed

Through Intrastat declarations Member States collect statistics relating to the trade of goods between Member States. There are separate thresholds for arrivals and dispatches that determine when Intrastat reporting is mandatory. HMRC has published draft legislation which increases the Intrastat arrivals threshold. Currently UK VAT Registered businesses must submit Intrastat Arrivals Declarations when the threshold of £600,000 is exceeded, this is proposed to increase to £1,200,000. This change is expected to come into effect by 1st January 2014.
The current threshold to report the delivery terms will be increased to £24,000,000. These measures are in line with the Intrastat simplifications as proposed by the EU Commission (target date in 2016).

Read more here

Source: www.hmrc.gov.uk

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