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23 September 2024 UK to launch a consultation on e-invoicing
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.
Document ID: 2024-1744 | ||||||||