globaltaxnews.ey.comSign up for tax alert emailsPrintDownload

23 September 2024

UK to launch a consultation on e-invoicing

  • The United Kingdom (UK) government has announced a package of reforms aimed at delivering on the agenda of the new government.1
  • The government has indicated that it would like to increase the use of electronic invoicing (e-invoicing) and will launch a consultation on this topic.
  • A new Digital Transformation Roadmap, expected in Spring 2025, will set out the UK tax authority's vision to be a digital-first organization.
 

On 23 September 2024, the UK government announced that it wants to promote the wider use of e-invoicing across UK businesses and by government departments. The introduction of e-invoicing aims to significantly reduce administrative tasks, improve cash flow, boost productivity, introduce automation, and reduce errors in tax returns, all helping to close the tax gap.

The UK tax authority, His Majesty's Revenue and Customs (HMRC) will launch a consultation on the use of e-invoicing that will gather input from businesses on how HMRC can support investment in and encourage e-invoicing uptake. The date of the consultation has not yet been announced.

Although no detailed e-invoicing proposals have yet been issued, businesses operating in the UK should be aware that the adoption of mandatory e-invoicing would be a significant development, which would likely have far-reaching implications.

It was also announced that a new Digital Transformation Roadmap, aimed to be published in Spring 2025, will set out HMRC's vision to be a "digital-first" organization. The Roadmap will include measures to ensure digital inclusion and support for businesses that cannot yet interact digitally.

* * * * * * * * * *
Endnote

1 The full announcement is available at Chancellor unveils package to deliver on promises of new government - GOV.UK (www.gov.uk).

* * * * * * * * * *
Contact Information

For additional information concerning this Alert, please contact:

Ernst & Young LLP (United Kingdom) London

Published by NTD’s Tax Technical Knowledge Services group; Carolyn Wright, legal editor

Document ID: 2024-1744

 
 

The information contained herein is general in nature and is not intended, and should not be construed, as legal, accounting or tax advice or opinion provided by Ernst & Young LLP to the reader. The reader also is cautioned that this material may not be applicable to, or suitable for, the reader's specific circumstances or needs, and may require consideration of non-tax and other tax factors if any action is to be contemplated. The reader should contact his or her Ernst & Young LLP or other tax professional prior to taking any action based upon this information. Ernst & Young LLP assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect the information contained herein.

 

Copyright © 2024, Ernst & Young LLP.

 

All rights reserved. No part of this document may be reproduced, retransmitted or otherwise redistributed in any form or by any means, electronic or mechanical, including by photocopying, facsimile transmission, recording, rekeying, or using any information storage and retrieval system, without written permission from Ernst & Young LLP.

 

Any U.S. tax advice contained herein was not intended or written to be used, and cannot be used, by the recipient for the purpose of avoiding penalties that may be imposed under the Internal Revenue Code or applicable state or local tax law provisions.

 

"EY" refers to the global organisation, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.

 

Privacy  |  Cookies  |  BCR  |  Legal  |  Global Code of Conduct Opt out of all email from EY Global Limited.

 


Cookie Settings

This site uses cookies to provide you with a personalized browsing experience and allows us to understand more about you. More information on the cookies we use can be found here. By clicking 'Yes, I accept' you agree and consent to our use of cookies. More information on what these cookies are and how we use them, including how you can manage them, is outlined in our Privacy Notice. Please note that your decision to decline the use of cookies is limited to this site only, and not in relation to other EY sites or ey.com. Please refer to the privacy notice/policy on these sites for more information.


Yes, I accept         Find out more