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The government has launched a consultation on plans to standardise electronic invoicing and increase its adoption across UK businesses and the public sector.
The document, published jointly by HMRC and the Department for Business and Trade, explores:
- 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; and
- whether e-invoicing should be complemented by real time digital reporting.
Comments should be submitted online or by email by 7 May 2025.
Ed Saltmarsh, technical manager, VAT and Customs, at the ICAEW, said: ‘There are clear long-term benefits of e-invoicing for businesses, including reduced administrative costs and improved cash flow. However, implementing e-invoicing can involve a substantial investment in time and money, particularly for SMEs. That’s why we’re encouraged by the government’s approach to addressing these challenges through consultation.’
