intrastat calculations

System
System Posts: 100,534 🤖 Admin 🤖
edited 10:30AM in AAT student discussion
hello all,<BR><BR>i have a job interview tomorrow and one of the duties include intrastat calculations!!<BR><BR>What are these??<BR><BR>I have not covered this in my course and would really apprecaite your knowledge of these.<BR><BR>many thanks

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    intrastat calculations

    <BR>Hi<BR><BR>Best of luck for tomorrow.<BR><BR>You will find some info here:<BR><BR>http://customs.hmrc.gov.uk/channelsPortalWebApp/channelsPortalWebApp.portal?_nfpb=true&_pageLabel=pageImport_ShowContent&id=HMCE_CL_001441&propertyType=document<BR><BR>I don't do them in my current role, but If i remember correctly, you simply list the value of sales/purchases for each EU vendor/client you have traded with, along with their VAT number, either monthly/quarterly. Can be quite time consuming, but most software packages (Sage for example) can produce reports which show this data. It is used for EU reporting and I think (not 100% sure) it is used to calculate each country's balance of payments (imports/exports).<BR><BR>Ben<BR><BR>Ben
  • System
    System Posts: 100,534 🤖 Admin 🤖
    intrastat calculations

    Hi<BR><BR>What BenJR is describing is the 'EC Sales List' return.<BR><BR>Intrastat is to do with inter-european trade, purchases and supplies to other EU countries.<BR><BR>Basically, each month you fill in a form which indicates the type of goods sold and/or purchased. You fill in the form with the code for the goods, the value, the net weight and what country it was from. Depending on the total EU sales and total EU purchases value, you may need to complete the return for purchases or sales or both.<BR><BR>Unlike other similar returns (VAT etc), intrastat is based on the arival (purchases) and dispatch (sales) date as opposide to the invoice date. Therefore items around the end/beginning of a month may be included in the accounts for one month but apply to intrastat for another month since, foe example, they could be invoiced at the end of June, But arrive in early July.<BR><BR>Intrastat isn't hard but it can be 'fiddly'. Once you get your head around it it isnt too bad. Have a look at the HMRC website (www.hmrc.gov.uk) there is information on there. You can also phone the information line and order a copy of the guide.<BR><BR>Neil

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