IXBRL etc | AccountingWEB



I have been blissfully untouched by the iXBRL turmoil, as I am in a pure audit environment.

However, helping out a largish charity after a change in personnel at a high level, I have discovered that we need to do corporation tax returns online (CT as it was formed by constitution not Trust Deed), in respect of the year ended 30 June 2010. Returns (CT600 and CT600E) for year ended 30 June 2009 were submitted manually. The charity has no taxable income.

I prepared the accounts using Excel and Word, and understand from the HMRC website that we will need to purchase commercial software to file the returns. I have registered for online filing and am awaiting an activation code.

Could someone tell me what I need to do next please?

Thank you in advance.







iXBRL etc

demonicrodney | | Permalink

We recently faced a similar situation.  Our accounts preparation software does not yet support iXBRL for charity accounts so we contacted HMRC.  We have been told (though we have not yet tested it) that there is a twelve month concession allowing charity accounts to be submitted on paper.  I have not been able to verify this but it may be worth talking to Bootle to see if they will accept a hard-copy or PDF set of accounts.

Thank you.....

Towards excellence | | Permalink

That's helpful.... but what software are you using and which tax package please?




iXBRL etc

demonicrodney | | Permalink

We have an integrated Digita suite

Which are the better iXBRL Tagging software packages for Chariti

ivickers | | Permalink

We are a large Charity and are exploring our options as to whether to use an outsourced service, or to tag the accounts ourselves. Having looked at the players in the market I am minded to explore further the offerings of Digita (Thomson Reuters) or TCSL (Tax Computer Systems Limited) with as a possible back up the CoreFiling Seahorse or CCH products.

Has anyone made use of any of these products using the Charity Taxonomy, and if so how have they found them for ease of use/flexibility?

Small charities

plgriffiths | | Permalink

Charities that have been requested to submit a corporation tax return, but have income of less than £6.5 million, have a two year concession to submit the accounts in pdf format. I am not sure that any of the commercial accounts production software can tag accounts of charities yet, with this in mind I would contact HMRC and request that pdf copies be submitted even where the charity has income greater than £6.5 million. We have done this for consolidated commercial accounts and HMRC have accepted the position. This is only a temporary solution until the software position improves.

We use Alphatax (TCSL) for preparing our returns and computations and this works well including the supplementary returns for charities.


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