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17/02/2025
Govt Launches Consultation On E-Invoicing For UK Businesses
The UK government has launched a 12-week consultation on proposals for the widespread adoption of electronic invoicing (e-invoicing) across businesses and the public sector.
E-invoicing involves the digital exchange of invoice information directly between buyers and suppliers, aiming to streamline processes, reduce errors, and improve cash flow for businesses.
"As part of the Prime Minister’s Plan for Change, we have begun our work to transform the UK’s tax system into one that is focused on helping businesses and the economy to grow," said Exchequer Secretary to the Treasury, James Murray. "E-invoicing simplifies processes, reduces errors and helps businesses to get paid faster. By cutting paperwork and freeing up valuable time and money, it will help improve firms’ productivity and their ability to grow and succeed."
The consultation, published jointly by HM Revenue and Customs (HMRC) and the Department for Business and Trade (DBT), will gather views on various aspects of e-invoicing, including potential models for implementation, the scope of any mandate, and the potential benefits for businesses of all sizes.
"This is why we want to make sure e-invoicing works for SMEs, because cash flow can make all the difference between staying afloat or going under," said Gareth Thomas, Minister for Services, Small Business and Exports.
The government will engage with businesses and stakeholders through various channels, including face-to-face discussions and online consultations.
The consultation period will run until May 7, 2025.
E-invoicing involves the digital exchange of invoice information directly between buyers and suppliers, aiming to streamline processes, reduce errors, and improve cash flow for businesses.
"As part of the Prime Minister’s Plan for Change, we have begun our work to transform the UK’s tax system into one that is focused on helping businesses and the economy to grow," said Exchequer Secretary to the Treasury, James Murray. "E-invoicing simplifies processes, reduces errors and helps businesses to get paid faster. By cutting paperwork and freeing up valuable time and money, it will help improve firms’ productivity and their ability to grow and succeed."
"This is why we want to make sure e-invoicing works for SMEs, because cash flow can make all the difference between staying afloat or going under," said Gareth Thomas, Minister for Services, Small Business and Exports.
The government will engage with businesses and stakeholders through various channels, including face-to-face discussions and online consultations.
The consultation period will run until May 7, 2025.
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