The future for e-invoicing
E-invoicing is a long-accepted form of commercial data exchange and is becoming important for regulatory authorities.
HMRC will initiate a consultation process to gather feedback on fostering investment in e-invoicing. The consultation date has not yet been specified, but we recommend that businesses should prepare for potential mandatory e-invoicing. This consultation will seek input from businesses on how HMRC can support investment in and uptake of e-invoicing.
The initiative reflects global trend towards e-invoicing and HMRC’s focus on digital transformation.
Further information on, and a glossary for, e-invoicing here.