The majority of statutory accounts that get filed with HMRC start life as word documents (or excel), whilst the majority of software houses will (no doubt) write their CT programmes to be compatible (and presumably their accounts packages) where does that leave the practices that do not need the accounts packages because the accounts are in Word (Excel) or are produced in house by clients.
Can anyone out there suggest a 'converter' (Word/Excel to iXBRL/XBRL - or do any of the software houses out there want to put on the table that they in the process of developing a converter to support their CT packages. Whilst I accept that we are 18 moths (well a bit more) away from March 2011, I don't want to be worrying about it then or even in 12 months time - but I expect I will.
Can anyone explain what is involved with a converter programme and I can decide how much of a problem this is or is not?
HMRC have just started their campaign to 'make it known' with a mail shot today (add to that some comments in the IT press and tax/accounting websites publications).
Planning in advance.
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