How does iXBRL work in practice
Hello there. I'm hoping someone can help me fill a gap in my knowledge. I'm currently studying ATT and I know that companies now have to file their Corporation Tax Returns electronically and provide accounts and computations in iXBRL format. I'm not currently getting any practical tax experience though, so I don't know what that means in practical terms.
My questions essentially are:
- Can you make whitespace disclosures within the computations using iXBRL?
- Can you attach any additional documents?
One situation that I'm thinking of in particular (and I expect there are others) is the making of R&D claims. HMRC's guidance says, "Although it's not a legal requirement, HMRC encourages companies and organisations to:
- tell them why the company or organisation considers its project(s) to be allowable as R&D (as defined in the section above)
- provide a summary of the costs incurred on the R&D and how the figures in the return were arrived at."
I just wondered how you would achieve that in real life. Can you make a whitespace disclosure? can you attach some sort of report or similar in pdf format?