Intrastat returns are normally filed alongside VAT returns. They account for all goods that have be moved between the UK and other countries in the EU. This process has two main purposes; it gives the government the ability to gain statistical data on trade with the EU and evaluate the possibility of a business committing fraud on their VAT returns.
There are multiple different thresholds for Intrastat declaration, depending on the country that is being traded with. However, the threshold takes into account all trades with EU countries within a year. All goods that have been dispatched from the UK and that have arrived in the UK, need to be declared by a business.
SUPPORT FOR INTRASTAT RETURNS
Intrastat returns can be a difficult process for companies, as they are required to keep detailed reports of all their goods despatched and received. As a tool to identify VAT fraud, it is essential that businesses provide full documentation of their traded goods, formatted correctly and filed before each deadline passes. Due to the complex nature of Intrastat returns and the importance of the process, many companies choose to hire specialist accountants to oversee the returns and compile the needed documents.
Our specialist team can assist in various areas of Intrastat returns, including, but not limited to:
Getting the right support and assistance on your Intrastat returns is essential for full transparency of your business trades. At The Accountancy Solutions, our team have exceptional experience in the area of Intrastat and VAT returns. We can aid your business in registering with the required bodies and ensure that all your returns are full representations of any goods despatched to or from the UK.