Simplification of Intrastat

HMRC have published a consultation document on EU proposals to reduce the burden on businesses required to submit Intrastat declarations, for comment by 8 April 2014 say Harris & Co accountants Northampton who prepare VAT returns for many of small and medium sized businesses.

The Intrastat survey was introduced to collect data on trade in goods between the EU member states and provide key information for analysis following the introduction of the Single Market when businesses no longer needed to submit customs declarations.

This consultation seeks views on the key part of the EU Commission’s Statistical Office (Eurostat) proposal, known as SIMSTAT (Single Market Statistics), to simplify the Intrastat system. SIMSTAT is centred around the mandatory exchange of dispatches (EU Exports) data with other EU Member States, and the removal of the requirement for member states to collect their own Intrastat arrivals (EU imports) information. Instead, arrivals data could be produced via a ‘Single Flow’ system from dispatches data exchanged with other member states.

The consultation document is available from GOV.UK.