# Commission Regulation (EC) No 1982/2004 of 18 November 2004 implementing Regulation (EC) No 638/2004 of the European Parliament and of the Council on Community statistics relating to the trading of goods between Member States and repealing Commission Regulations (EC) No 1901/2000 and (EEC) No 3590/92, Article 13

Extent: E+W+S+N.I.

1. The Commissioners for Her Majesty's Revenue and Customs shall calculate the thresholds for the year following the current calendar year on the basis of the latest available results for the relevant trade ... over a period of at least 12 months. The provisions adopted at the start of a year shall apply for the whole year.
2. The value of the trade of a party responsible for providing information is considered to be above the thresholds:
(a) when the value of relevant trade ... during the previous year exceeds the applicable thresholds, or
(b) when the cumulative value of relevant trade ... since the beginning of the year of application exceeds the applicable thresholds. In that case, information shall be provided from the month in which thresholds are exceeded.
3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3a. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4. For individual transactions whose value is less than £175, the parties responsible for providing information may report the following simplified information:
the product code 9950 00 00,
the partner Member State,
the value of the goods.
...

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Source: https://www.legislation.gov.uk/eur/2004/1982/article/13 (the official version)
Page: https://openlegislation.uk/eu-regulation-2004-1982/article-13
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.