Chancellor Rachel Reeves yesterday outlined a package of reforms to improve the UK's tax system to help fix the foundations of the UK economy. The three strategic priorities for HMRC are closing the tax gap, modernising and reforming and improving customer service.
As part of the package, HMRC will soon launch a consultation on electronic invoicing (e-invoicing) to promote its wider use across UK businesses and government departments.
The introduction of e-invoicing can significantly reduce administrative tasks, improve cash flow, boost productivity, introduce automation and reduce errors in tax returns - all helping to close the tax gap. The consultation will gather input from businesses on how HMRC can support investment in and encourage e-invoicing uptake.
In a further update it was announced that new staff are expected to join HMRC's training programme in November as 200 additional offer letters have been sent as part of the 450 letters already sent. This is part of HMRC's plans to recruit an additional 5000 compliance staff to help close the tax gap.
