Companies House delays mandatory iXBRL filing
Companies House announced today that it would not be pushing for the introduction of mandatory electronic filing in the iXBRL format by March 2013.
An announcement on the registration and accounts agency’s website explained that because of the “because of the government’s absolute determination not to add new regulations that affect small business” it would not now be proceeding with legislation.
Instead of pushing for the mandatory approach, Companies House will focus its resoruces on improving digital services for business - including those who need help with electronic filing.
Companies Hosue remains focused on being a fully electronic registry - and on using iXBRL as its primary filing format to tie in with HMRC’s efiling strategy. A joint filing mechanism is already available, and Companies House is already equipped to accept iXBRL submissions from third party accounts production software packages and its own PDF-based online filing forms.
“Mandating electronic services is an issue which we will reconsider once the moratorium on new regulation for small businesses has ended in 2014,” the statement concluded.
Continued...
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ixbrl
All they are saying is that they are not making it compulsory, not that they are postponing implementation in any way. It is possible to do it now.
We first sent XBRL accounts to CH in 2005 and iXBRL to CH in Sept. 2010.
If you can't currently file the accounts electronically from your accounts package you need to talk to your supplier.
David Forbes
24 hours later and the home page is still wrong. Doesn't anybody
This page says: “Companies House announced today that it would not be pushing for the introduction of mandatory electronic filing in the iXBRL format by March 2013.”
The home page “advert” in blue says: “Companies House will push for the introduction of mandatory electronic filing in the iXBRL format until March 2014 at the earliest”.
Surely, a more sensible comment would be: “Companies House will NOT push for the introduction of mandatory electronic filing in the iXBRL format until March 2014 at the earliest”.
AccountingWeb seems to be trying to copy BBC standards! I told them about the problem 24 hours ago and they still don’t respond.
Smoke and mirrors
iXBRL corporation tax filing turned out for us to be the damp squib everyone was talking about. The CT and accounts software just did their stuff after 31/3/11. All well and good.
So how come HMRC won't allow us to file a CT returns for accounting periods ending after 31/3/11 yet, and won't be able to until October? Is there going to be a six months closed season every year? We're trying to speed up our turnaround time for company accounts, and this is just an unnecessary irritant. In due course it appears I'll be able to file iXBRL 30 April year end accounts at Companies House as soon as they are ready, but not with HMRC. And what about the Joint Filing facility on the HMRC website, which presumably doesn't accept anything post-31/3/11 yet - if so you still have to deal with Companies House separately, and have some sort of reminder system to go back to HMRC later and file the accounts there. In the good old days of paper we just got everything signed and filed at the same time, job done. They call this progress?
Great...
Now we just need HMRC to do the same