Recent research by HM Revenue & Customs suggests that many traders find the idea of making their Intrastat declarations of statistical information on their intra-EU trade daunting. Yet those traders who tried the system actually preferred it. We asked HMRC why.
Apart from the fact that it is easier for HMRC, there are a number of benefits to business:
- Electronic declarations are quicker and easier to submit
- They can easily be amended on line if there is an error on them
- Totals for value and net mass are automatically calculated online, saving a job
- Traders can send as many declarations as they want within the month (providing all declarations meet the deadline), thus spreading the administrative load
- The email alert service can send out monthly reminders when returns are due (this alert is also available to those sending paper returns)
Intrastat declarations are due by the end of the month following the reference period to which they relate and the full rules regarding submissions are outlined in HMRC Public 60 (http://www.uktradeinfo.com/documents/GuideSearchJan2006v2.pdf (pdf 1.15MB 
) (Link to an external site - Disclaimer 
)).
If you would like to find out more about making your Intrastat declaration electronically, visit http://www.uktradeinfo.com/index.cfm?task=elecsub (Link to an external site - Disclaimer ).
Return to SITPRO News: Issue 57, Summer 2006
