UK VAT- Intrastat Declarations to Be Submitted Online
HM Revenue & Customs (HMRC) intend to make electronic submission of Intrastat declarations mandatory. HMRC plans to amend the UK Intrastat legislation to withdraw the option to submit Intrastat declaration by paper. This measure is likely to take effect on April 1, 2012.
- (1888PressRelease) November 21, 2011 - Sunnyvale, CA - According to an earlier notice (Circular 25) issued by the government, VAT can be charged at the full rate of 17 percent by general taxpayers on the sale of software products developed by them. Now, immediate VAT refunds can be obtained if their VAT payable exceeds three percent of their sales amount.
Currently, many businesses that are required to submit declarations of their trade with other EU Member States are using a paper Intrastat declaration. The move to online submission is mainly to save costs and delays caused by backlogs of paper forms. Data filed electronically will be more secure with minimal human error compared to data processed on paper.
Please call or email for more details on how to submit Intrastat declarations or process
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Nair & Co. provides you with your one touch outsourced finance, internal audit compliance, HR and legal department for your international operations. If you are expanding abroad for the first time, our turnkey solution will help you do so with minimal risk, stress and cost. We currently support more than 1000+ client operations in over 50 countries and have core offices in U.K., India, China, U.S., Japan and Singapore. Nair & Co. was named among the top 100 outsourcing services providers in the world by the International Association of Outsourcing Professionals (IAOP). Learn more at www.nair-co.com
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