HMRC have reminded businesses that Bulgaria and Romania joined the EU on 1 January 2007. This means that, from that date, all VAT registered businesses will need to include any trade with these countries in boxes 8 and 9 of their VAT returns.

Similarly, businesses that are registered for Intrastat will need to include this trade on their monthly Supplementary Declaration forms (SDs). The change may mean that some businesses become liable to submit SDs for the first time. Intrastat forms have to be completed where either acquisitions or dispatches with other EU countries exceed the annual limit. The limit was raised to £260,000 from 1 January 2007.

Internet Link:

Business Brief - Intrastat and EU enlargement