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Consultation on plans for the rollout of electronic invoicing
The government has launched a joint HMRC/Department for Business and Trade consultation on plans for the rollout of electronic invoicing and whether to make it mandatory for businesses in the UK. The transition towards e-invoicing in the UK will involve significant changes to existing business practices and the consultation is designed to understand the full implications of this for business across the UK.
According to the government, although several accountancy software providers offer e-invoicing capability in the UK, uptake of e-invoicing is low.
The UK consultation is looking for general views on e-invoicing and has four key themes, including:
- the 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 supported by real time digital reporting.
As any decisions to move to a mandatory framework would affect millions of businesses, self-employed and sole traders, ACCA would be keen to hear from members and welcomes your feedback and comments which can be sent to our policy team at ukpolicy@accaglobal.com.