- The UK is modernizing its tax and customs systems with a focus on e-invoicing and improved compliance.
- HMRC has introduced a digital strategy called digital by default, emphasizing e-invoicing.
- The initiative builds on the existing Make Tax Digital scheme to enhance tax compliance and reduce administrative burdens.
- Intermediaries like tax advisers and software providers play a crucial role in the tax system.
- HMRC aims to automate the tax system using software and technology.
- By 2030, HMRC plans to simplify compliance and increase revenue for public services.
- The compliance strategy includes preventing non-compliance, promoting compliance, and responding to compliance risks.
- The tax gap was GBP 46.8 billion in 2023 to 2024, with efforts to close it ongoing.
- HMRC and DBT are promoting e-invoicing in both private and public sectors.
- Public consultation on e-invoicing closed in May 2025 to guide future adoption strategies.
Source: regfollower.com
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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