Intrastat – Thresholds from 1 January 2008

H M Revenue & Customs have released a Revenue & Customs Brief (75/07) which confirms that the threshold for Intrastat returns will remain the same for 2008.

The exemption threshold remains at £260,000.

If the value of your annual intra-EU trade is over the exemption threshold you will have to complete an Intrastat Return each month. These are known as Intrastat Supplementary Declarations. Where a business exceeds the threshold during a calendar year it will be required to complete the returns for the rest of the year.

You can more information on Intrastat in VAT Notice 725 and Notice 60. Both are available on HMRC’s website.

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