Chancellor unveils ‘HMRC package’ alongside conference speech
A press release published after Rachel Reeves’ speech provides some more details on the Government’s plans for HMRC
A press release published after Rachel Reeves’ speech provides some more details
As widely reported in the press, Rachel Reeves gave her first Labour conference speech as Chancellor of the Exchequer on 23 September 2024. Alongside this speech, HM Treasury published a press release detailing an ‘HMRC package’ described as “reforms to improve the UK’s tax system to help fix the foundations of the UK economy”. This HMRC package included the following updates:
- HMRC will soon launch a consultation on electronic invoicing (e-invoicing) which will “gather input from businesses on how HMRC can support investment in and encourage e-invoicing uptake”. This implies there is no intention to make e-invoicing mandatory but we will have to wait to see the details in the consultation document. No date was given, but it is possible it will be published alongside the Budget materials on 30 October;
- A Digital Transformation Roadmap setting out “HMRC’s vision to be a digital first organisation underpinned by customer insight” will be published. HMRC are aiming for Spring 2025 for this. There is confirmation that this Roadmap “will include measures to ensure digital inclusion and support for customers who cannot yet interact digitally”;
- An additional 200 offer letters have been sent out to new recruits to join HMRC’s training programme in November as part of their plans to recruit an additional 5,000 compliance staff to help close the tax gap which was promised in the Labour manifesto; and
- The Exchequer Secretary to the Treasury, James Murray, has become the Chair of the HMRC Board. This is aimed at helping him oversee the implementation of his three strategic priorities for HMRC – “closing the tax gap, modernising and reforming, and improving customer service”.
Many of these initiatives were trailed by the Labour party in the run-up to the election as part of their plans to Close the Tax Gap.
The HM Treasury press release also mentioned the planned development of an Industrial Strategy to be published in Spring 2025 following consultation with business. A green paper is expected beforehand “around Budget in October”.
