Government sets out plans for ‘e-invoicing’ overhaul to cut paperwork
UK businesses are, for the first time, being invited to have their say on the government’s electronic invoicing (e-invoicing) proposals. E-invoicing is the digital exchange of invoice information directly between buyers and suppliers. It could help businesses get their tax right first time, reduce invoicing and data errors, improve the accuracy of VAT returns, help close the tax gap and save time and money. It usually results in faster business to business payments, leading to improved cash flow and less paperwork. This will help cut down time and resources businesses spend managing their tax affairs so they can be more productive. It...