30 September 2024
During September the UK unveiled a package of reforms that includes launching a consultation on how HMRC can support the introduction of electronic invoicing (e-invoicing) for business-to-government and business-to-business sales.
By introducing e-invoicing HMRC hopes to significantly reduce administrative tasks, improve cash flow, boost productivity, introduce automation, and reduce errors in tax returns, which should lead to cost savings for businesses and also help to close the £8.2 bn VAT Gap in the UK.
The consultation will gather feedback from businesses on how HMRC can support investment in and encourage the use of e-invoicing. The scoping and timing of the consultation will be announced during the October Autumn Budget announcements.
Are you trading globally? Whether you require basic VAT advice or specific VAT compliance support, Fiscal Solutions can help. Our team of multi-lingual experts are knowledgeable in all the different VAT rules in Europe and around the world.
We help you simplify today’s complexities and address tomorrow’s challenges. The values we represent, and our consistent advice, mean you can trust Fiscal Solutions to do the right thing – for you and your organisation.
LATEST NEWS
Hungary to introduce mandatory digital VAT filing from...
From 1 January 2027, all businesses registered for VAT in Hungary will be required to file their VAT returns through the country’s eVAT, or eÁFA, system...
SEE MORE
LATEST NEWS
EU customs reform increases responsibilities for...
In September 2026, the EU formally adopted a new Customs Code that will significantly change how goods are imported into the EU. Although the reforms apply...
SEE MORE
LATEST NEWS
Germany plans import VAT accounting reform
Germany is planning to introduce a new import VAT accounting system from 1 January 2030, which could significantly improve cash flow for businesses importing...
SEE MORE