Government launches consultation on plan to streamline business through e-invoicing | Computer Weekly
Summary
The government has asked businesses for comment on a UK approach to electronic invoicing (e-invoicing), which is part of its plan to grow the economy. According to the government announcement, the consultation “will gather views on standardising e-invoicing and how to increase its adoption across UK businesses and the public sector”. “The potential of digitising taxes, speeding up payments and streamlining administrative tasks will provide real benefits to the economy, supporting smaller firms and boosting growth,” he said. It also highlighted research from UK accounting software firm Sage, which found that e-invoicing streamlines routine tasks including data entry and tax filing, resulting in 3% productivity gains. “E-invoicing simplifies processes, reduces errors and helps businesses to get paid faster,” said James Murray, exchequer secretary to the Treasury.