- Chartered Accountants Ireland (CAI) supports the promotion of electronic invoicing (e-invoicing) in the UK but emphasizes the need for a gradual, well-planned approach, recommending a voluntary adoption phase, especially for small and micro businesses, along with grant incentives and tax reliefs to facilitate uptake.
- The organization calls for a decentralized e-invoicing system aligned with EU standards to avoid complexity and differing requirements for Northern Ireland, highlighting the importance of stakeholder engagement and extensive testing before any mandatory implementation.
- CAI stresses the need for sufficient lead-in time and a dedicated support team within HM Revenue and Customs (HMRC) to assist businesses with the transition to e-invoicing, and advocates for a thorough review of the UK VAT regime to simplify processes and address existing complexities before introducing new systems.
Source Chartered Accountants
- See also
- Join the Linkedin Group on Global E-Invoicing/E-Reporting/SAF-T Developments, click HERE
Latest Posts in "United Kingdom"
- 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
- UK Supreme Court Confirms VAT on Intragroup Fees for Former VAT Group Members
- Supreme Court Clarifies VAT Grouping and Time of Supply Rules in Prudential Assurance Case
