Intrastat Reporting in the UK
Thursday March 18, 2010
HMRC has announced some changes to the Intrastat system for 2010. Most of the changes are minor. The threshold for intra-EU purchases of goods (arrivals) has been increased to £600,000 and the threshold for intra-EU sales (dispatches) has been reduced to £250,000.
In addition sales of new means of transport by VAT-registered businesses to private individuals in other Member States are no longer excluded from Intrastat reporting.
There are other minor changes that are detailed in the updated HMRC Notice 60 which include:
- Sales of new means of transport by VAT registered businesses to private individuals in other member states are no longer excluded from Intrastat reporting;
- Supplies of goods to British Embassies and Consulates are excluded from Intrastat reporting;
- For sales and purchases of vessels and aircraft and goods delivered to them, as well as ‘products of the sea’ (fishery products, minerals, salvage and all products which have not yet been landed by sea-going vessels), the reporting Member State is now determined according to where the entity that has ‘economic ownership’ of the vessel or aircraft is established.