Blick Rothenberg emphasizes that HMRC's recent consultation on electronic invoicing is a model for developing tax policy, allowing for extensive stakeholder feedback. Unlike past consultations, where HMRC often predetermined outcomes, this approach invites input from a broad array of businesses and sectors. E-invoicing, while crucial for efficiency, has limited adoption across the UK due to the absence of unified standards. The consultation is an opportunity to influence key considerations such as technical standards, mandates for adoption, and the government's rollout strategy, fostering a more inclusive policymaking process.
The recent HMRC consultation on e-invoicing is a commendable approach to tax policy development, allowing diverse stakeholder input, unlike HMRC's previous pre-decided consultations.
Currently, e-invoicing is not widely utilized in the UK, with existing standards being sector-specific. This consultation presents a unique opportunity for stakeholder engagement.
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