Intrastat is the system for collecting statistics on goods that have moved between EU member states. Intrastat covers goods that have been bought and sold or moved within the EU for other purposes. All VAT registered businesses that move goods within the EU are required to provide specific statistical information where the total value of those movement exceeds £1.5m for arrivals (goods arriving in the UK) or dispatches exceeding £250,000 (goods leaving the UK). Businesses who exceed either or both of these thresholds are required to submit an Intrastat supplementary declaration (SD) each month which must be submitted by the 21st day of the following month. The SD needs to be submitted electronically to HMRC. Larger businesses with arrivals and / or dispatches that exceed £24m are required to provide details of the delivery terms on the SD. Business that fail to submit accurate SDs by the due date could be liable to a criminal penalty with a fine of up to £2,500 for each offence.