- Launch of Public Consultation on e-Invoicing: On February 13, 2025, the UK government initiated a public consultation to advance the implementation of nationwide e-invoicing, focusing on open policymaking and stakeholder engagement to determine an effective system for adoption.
- Key Areas of Focus: The consultation document outlines the benefits of e-invoicing, emphasizing the need for common standards to enhance trade efficiency. It seeks input on various aspects, including models and infrastructure for e-invoicing, whether it should be mandatory or voluntary, the scope of any mandates, and potential complementary Continuous Transaction Controls (CTC).
- Stakeholder Participation and Next Steps: Stakeholders can submit their responses to the consultation by May 7, 2025. The HMRC and the Department for Business and Trade (DBT) will use the feedback to inform future decisions regarding e-invoicing, although no specific timelines or actions have been announced at this stage.
Source Pagero
Latest Posts in "United Kingdom"
- UK Considers VAT Cut on Domestic Fuel: Targeted Relief or Broad Measure?
- Supreme Court Clarifies VAT Grouping and Time of Supply Rules in Prudential Assurance Case
- Guernsey Seeks Companies to Support New GST Administration, Tender Deadline Approaches
- Navigating UK VAT: Key Considerations and Pitfalls in Exporting Goods
- HMRC’s New VAT Error Correction Rules: Stricter Penalties and Reporting Changes Explained
