iXBRL

Sage's Simon Taylor explores what practices should be doing to prepare for iXBRL.

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A program called Seahorse is coming to the aid of UK accountants who are all at sea over the new requirements to handle CT computations and statutory accounts in the online XBRL (iXBRL) format.

For close to a decade, financial reporting technology nerds have been investing a lot of time and intellectual activity in XBRL, the eXtensible business reporting language.

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HMRC has provided a list of companies which have been approved for corporation tax iXBRL filing. This will be updated regularly as more companies gain approval.

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Corporate tax agents are advised to batten down the hatches for the next few days as HMRC will be implementing a major upgrade to its Corporation Tax Online website on Monday 23 November.

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Milton Keynes-based tax and practice software house Forbes Computer has been approved by HMRC to file Corporation Tax returns including accounts and computations in the in “inline” iXBRL format.

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What do the changes to electronic filing on corporation tax mean for accountants, their clients and software providers? Sage’s Andy Laver explains.

The proposed changes in online filing rules for Corporation Tax are also causing accountants who develop their own accounts production tools to think again.

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Companies House and HMRC have agreed a way forward for joint filing of accounts and company tax returns. Mandatory online filing is not far away.

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Concerned AccountingWEB.co.uk members and tax/practice software developers have been wrestling with the implications of HMRC’s plans to make electronic filing of Corporation Tax mandatory from

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