4 Eyes Ltd: VAT, Tax and Customs Consultants

Businesses are reminded that the threshold below which they have the option of filing quarterly EC Sales Lists (ESLs) for intra-Community supplies of goods will be reduced from £70,000 to £35,000 with effect from 1 January 2012.

Under the rules agreed at EU level at the time of the 'VAT Package' changes in 2010, the lower threshold below which Member States could allow businesses making intra-Community supplies of goods to submit quarterly ESLs was EUR 50,000 per quarter (or equivalent in national currency), with the option of increasing this to EUR 100,000 per quarter until 31 December 2011. Thereafter, the higher threshold is removed and the lower EUR 50,000 threshold (£35,000 in the UK) applies.

Further information on intra-Community reporting is available on the HMRC website.

If you would like to discuss the implication of these changes, please contact 4 Eyes Ltd.