Changes to EU sales reporting
If you’re registered for VAT, your VAT return must include figures for EU purchases and sales, but you might also be required to provide EC sales list or intrastate reports. When do these apply?
EU VAT sales
VAT returns aren’t just for informing the VATman how much VAT you owe, they also provide important statistics regarding European trade. If you sell or buy goods to or from a country within the EU, you must enter the value of these transactions in Boxes 8 and 9 of the return respectively. If you’re about to complete these boxes for the first time, what you can expect to happen next?
EC sales list and Intrastat
the VATman spots an entry in either box 8 or 9, he’ll send you an EC sales list
form. Unless the value of your EU trade is below certain limits, you must
provide details of your EU transactions for goods and services on the form
(VAT101). However, where the value of EU goods (not services), including
shipping costs purchased or sold, exceeds the following limits:
- £500,000 for purchases, the Taxman calls these arrivals; and
- £250,000 for sales, also called despatches,
a Supplementary Declaration (SD) is required. This is known as Intrastat.
Further details on our VAT services can be found here.