- techUK and industry leaders urge the UK government to implement e-invoicing, starting with VAT-registered B2B transactions.
- E-invoicing is seen as essential for boosting productivity, improving access to working capital, and tackling late payments, which cost the UK economy £11bn annually.
- Industry leaders highlight that the digital infrastructure is already in place through Making Tax Digital, and standardising e-invoicing would further streamline business processes.
- Mandating e-invoicing is expected to reduce administrative burdens, lower processing costs, and provide greater certainty for businesses transitioning to a digital future.
- The letter calls for a clear government roadmap to ensure a smooth and strategic transition to e-invoicing, maximizing benefits for the UK economy.
Source: p2pnetwork.org
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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