Have your say on e-invoicing
The government is seeking views on the standardisation of electronic invoicing. Why, and how can you join the consultation?
E-invoicing refers to digitally generated invoices between suppliers and customers. This is more involved than, say, generating a PDF from a manually typed document, and would usually be initiated via the accounting/bookkeeping software. The government is looking at the possibility of standardising e-invoicing, and has launched a consultation that will run until 7 May 2025. The stated aim of the consultation is to gather views - there are no planned short-term changes - and will cover the following areas:
- different models of e-invoicing
- whether to take a mandated or voluntary approach to e-invoicing
- what scope of mandate might be most appropriate in the UK and for businesses
- whether e-invoicing should be complemented by real time digital reporting.
Standardisation would mean the requirements for e-invoicing would need to be harmonised by common requirements. Currently, it may be possible to use e-invoicing for some suppliers/customers but not others due to differences between systems used. To submit your views, use the link above.
Related Topics
-
The tax incentive to do a thorough stock-take
The annual stock-take isn’t exactly your favourite thing to do. You know resources could be better spent elsewhere so you try to get through it as quickly as possible. Why might it be worth a little more of your time?
-
MONTHLY FOCUS: STARTING TO THINK ABOUT VAT
The VAT registration threshold has barely changed over the last decade. As a result, more businesses are having to register. In this Focus, we look at the key considerations for a business that needs to register, or one that may be considering doing so on a voluntary basis.
-
Unused sales suppression tools can still trigger penalties
HMRC has published a new compliance factsheet explaining the penalties that can apply where a business possesses an electronic sales suppression (ESS) tool, even if it has never actually been used to suppress a sale. What do you need to know?