Institute Recommends Voluntary E-Invoicing with Incentives, Aligning UK Policy with EU Standards

• E-invoicing should be voluntary, not mandatory, according to the Institute’s Northern Ireland Tax Committee.
• The UK e-invoicing regime should be decentralised and aligned with EU-level agreements on the Digital Reporting Requirement.
• Recommendations include ensuring Northern Ireland is not subject to different standards than the rest of the UK.
• An appropriate lead-in time and extensive testing with stakeholders are essential for successful implementation.
• A voluntary approach should be encouraged, especially for small and micro businesses, with education and grant incentives.
• Mandatory e-invoicing should be introduced in phases based on business size.
• The Government should establish a dedicated e-invoicing support team.
• A review of the UK’s VAT regime should be conducted to identify simplification opportunities.
• The potential impact on Northern Ireland should be considered to avoid complexity or different standards.
• Continued open and transparent consultation with stakeholders is necessary to address challenges.

Source: charteredaccountants.ie

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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