Is anyone else having difficulties with IRIS and IXBRL for groups?
We understand that HMRC require, as they always have done, a set of the consolidated accounts and the trading and profit and loss account for the parent itself. IRIS doesn't allow the trading profit and loss account only to be created in IXBRL format and will only create an entire set of accounts for the parent. The statutory accounts are not required for the parent company for any other purpose and are not therefore generally prepared. They have not been audited therefore presumably the audit report will be removed and the directors report review of business will relate solely to the consolidated accounts which will also need to be amended.
How are other firms dealing with this?
Related resources
Replies (2)
Please login or register to join the discussion.
Groups and iXbrl
Hi,
Believe you can iXBRL the individual parent accounts and attach the group set as PDF.
I'm not sure if this is extra work in Iris?
As you say the audit report and director report are talking about the group set, but I can't see what problems could arise from this.
Cheers
Ben
Simples
The group accounts will/should have the balance sheet info for the individual parent company. That should be tagged as normal.
HMRC will allow the P&L info to be tagged in the tax computations, provided that the information is the same as that which would have appeared in individual company accounts.