IXBRL, what does it change for me?
I have been trawling the web for answers but I am still a bit in the dark on IXBRL.
I have a limited company that doesn't have a lot of activity at all, just some very simple income and costs is all what's in the accounts.
Every year I do the webfiling and I submit a paper version of my accounts to HMRC.
Now the new IXBRL thing comes in and: http://www.hmrc.gov.uk/ct/ct-online/file-return/xbrl-guide.pdf this guide is not very clear in my opinion.
Can somebody maybe explain in bulletpoints:
- If I can use the free software by HMRC to file accounts?
- Is there any reason for me to buy any software to be compliant with the iXBRL standard?
- General tax book with planning 151 2
- Limited Company - Personal Bank Account 3,210 69
- 2013/14 failure to submit end of year submission 286 11
- Gift of property & improvements 120 2
- Error in past Corporate tax return 345 5
- VAT Invoice 139 4
- Company overdue but wants to be struck off 807 32
- IHT and Swiss Property 130 1
- Sale of house with planning permission - tax free? 221 3
- Flat rate Vat Scheme & Vat on wholesale production of Cakes and other deserts 188 7
- Vat code for journal entries of director's expenses 154 2
- Claiming VAT and missing receipts 453 10
- HMRC overreaching its powers -again against a small surveying firm? 376 8
- Help with tax codes on Sage 259 1
- Letting relief on property transferred to a spouse 187 6
- VAT code for invoice from not VAT registered company 258 4
- Accounting for a finance lease 165 4
- SA302's anyone?? 539 16
- A change from the old Q v NQ debate 1,644 41
- Renting for military reasons 195 2
- Skandia using wrong address 1,620
- Nil Rate Band Trust - index linked debt by way of charge over property 901
- International interest certificate 511
- NOVA 368
- Have we escaped Gift with Reservation of Benfit & Pre-owned asset charges? - Gift after benefit 297
- Management expenses for investment company 264
- Bonus Bonds 261
- Entertainer withholding tax in Australia 173
- tax on apprenticeship income 173
- P11D benefit received by widow 150