Electronic invoicing and tax avoiders on chancellor’s agenda

New chancellor Rachel Reeves has revealed that she wants to add 5000 new officers to HMRC in the next five years and 200 more compliance officer positions being recruited for in the next year.

Speaking at the Labour Party conference Reeves also announced a consultation on electronic invoicing.

This is aiming to reduce ‘administrative tasks, improve cash flow, boost productivity, introduce automation, and reduce errors in tax returns – all helping to close the tax gap’.

This speech comes as Labour nears its first budget and Reeves did not reveal many details. However, she did announce the introduction of free breakfast clubs for every school across England.

Additionally, a Covid Corruption Commissioner was announced, which will ‘block any Covid-era PPE contract being abandoned or waived until it has been assessed’.

Reeves said: “The road ahead is steeper and harder than we expected. You don’t need to take my word for it, the figure released only on Friday showed another record month of borrowing. Debt of 100% of GDP, that is the inheritance they left in black and white.”