HMRC have confirmed changes in Intrastat thresholds from 1 January 2009. The exemption threshold will increase to £270,000 (from £260,000) and the delivery terms threshold to £16,000,000 (from £14,500,000).
Intrastat declarations are used to collect information on the movement of goods from the UK to other EU countries and vice versa. Any business that exceeds the exemption threshold for either movements or acquisitions is obliged to submit monthly returns. Where a business exceeds the delivery terms threshold additional information is required.
HMRC also announced that it plans to simplify the Intrastat system from 2010. The changes are expected to remove a significant number of small businesses from having Intrastat filing obligations. The relevant guidance is expected to be published in early 2009.