- HMRC and the Department for Business and Trade published a UK e-invoicing consultation paper.
- E-invoicing is the digital exchange of invoice information between buyers and suppliers financial systems.
- The government believes increased e-invoicing may support economic growth, business productivity, improve business cashflow, and reduce errors in tax returns.
- The consultation aims to understand how e-invoicing aligns with businesses and their customers.
- The consultation seeks input on how the government can support the increased adoption of e-invoicing.
- The consultation focuses on different models of e-invoicing, whether to take a mandated or voluntary approach, the scope of a mandate, and whether e-invoicing should be complemented by real-time digital reporting.
Source: marcusward.co
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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