GOING PAPER-FREE
TECHNOLOGY
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GOING PAPER-FREE
Governmental pressure to adopt e-invoicing is good as it usually results in other efficiencies such as more accurate and timely payment of suppliers and a reduction in fraud , duplication and error . In fact , according to Billentis , e-invoicing reduces the costs of handling invoices by more than 50 %.
While the UK Government is not mandating e-invoicing , it is moving in the right direction . Its Making Tax Digital programme is aimed to help individuals and businesses handle their tax more effectively and efficiently . HMRC wants to become “ one of the most digitally advanced tax administrations in the world ” and to transform tax administration so that it is easier for taxpayers to get their tax right .
By April 2019 , it will expect VAT-registered businesses with a taxable
MAY 2019