| |
| NEWS CENTRE |
NEW UK INTRASTAT THRESHOLD FOR 2009 |
When goods enter the UK from another EC Member State, a UK VAT registered business must usually record an “Acquisition”. When goods are removed from the UK to other EC Member States, a UK VAT registered business must usually record a “Dispatch”.
If the total value of all UK Acquisitions during any calendar year exceeds the UK’s “Intrastat threshold” for that year, the UK VAT registered business must also complete additional VAT forms for HMRC. These forms are called “Supplementary Statistical Declarations” (known as Intrastats) and record details of the transactions (e.g. the other EC country involved, net weight of the goods, value, etc.). These forms must be completed from when the Intrastat threshold is exceeded until a calendar year occurs in which the Intrastat threshold is not exceeded. The same applies, separately, to UK Dispatches.
From 1 January 2009 the UK Intrastat threshold will be increased from £260,000 to £270,000.
|
|
