Intrastat

Trading in the EU is very common for business owners and your obligations as a buyer or seller are extremely important. Anytime goods are moved between member states within the EU by trade, they must be covered by Intrastat.

Intrastat filings are separate from the VAT Returns just like the EC Sales List, and require specific details for dispatches/arrivals to other EU countries.

What’s required in an Intrastat:

  • Commodity code for goods
  • Quantity and value of goods
  • Delivery items
  • Country of departure and arrivals of the goods
  • Description of the goods
  • Any shipping costs

Intrastat is the system for being able to collect statistics on the trading of goods between the European Member States to help monitor the health of the economy. Movements of goods between EU member states are called purchases or imports and sales or exports. In addition to goods that have been sold or bought, it covers goods that have moved between EU member states for other reasons.

There are 2 main types of Intrastat declaration.

Whichever you choose depends on whether the value of your goods or dispatches is above, or below the threshold.

The threshold for dispatches is £260,000 and £1.5 million for arrivals.

Every business trading goods with other EU member states must always declare Intrastat information. However, the amount of information required from you depends on whether the value of your goods exceeds the Intrastat threshold.

Businesses with dispatches or arrivals of goods that go below the threshold of £250,000 must only declare the value in boxes 8-9 on their standard VAT return in the UK.

Each EU Member state’s VAT offices have different requirements which you would need to comply with. 

If you were to go above the threshold with your goods then there is some additional information you need to submit called a Supplementary Declaration.

Cross Border VAT Software gives you the information required/necessary for Intrastat as it captures that data by its advanced automation with your sales. This is a very unique feature as it can become difficult to capture or keep a track of when you have lots of sales daily.

CBV will take care of your Intrastat obligations leaving you with more to focus on with other the areas of your business, and most importantly saving you money! 

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