The Financial Conduct Authority (FCA) is considering whether to charge firms an administrative fee if they choose not to receive its invoices by way of an online system.
The regulator has proposed that all fee-payers receive their invoices through its online invoicing system or else pay a fee, from 2019/20, arguing a paper service for a small percentage of firms is inefficient, expensive and time-consuming. The FCA revealed around 85% of authorised firms are currently using its online invoicing system but this, it said, still left some 8,000 businesses receiving paper invoices. It added: "Paper invoicing for a small percentage of firms requires a separate process to be in place which is inefficient. Printing and distributing 8,000 invoices as well as ...
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