We reported earlier this month that the Government has published draft legislation increasing the Intrastat arrivals threshold for reporting to £1,200,000 (from £600,000) with effect from 1st January 2014. This means that many businesses will no longer be required to complete Intrastat arrivals reporting. We understand that HMRC will monitor Intrastat arrivals values and will contact taxpayers that are no longer required to submit Intrastat arrivals returns.
If you believe you will fall below the new threshold and do not receive any correspondence from HMRC by January 2014, we would suggest contacting HMRC’s Intrastat Unit.
The threshold for despatches remains unchanged at £250,000.
Please contact us if you are unsure whether you are affected by the changes.