HMRC readies major CT Online upgrade

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.

The overhaul is part of the process to put in place a new filing mechanism to accept detailed accounts and computations in the inline XBRL format (iXBRL), the department advised last week.

The new portal will include a built-in iXBRL filing mechanism and will also accept data submitted in the new format from commercial software developers. At the moment, Forbes Computer and BTC Software are reported to have passed HMRC’s testing criteria, while Sage, Digita, Keytime and other CT tax developers are working on similar tools.

Companies won’t be required to file iXBRL data with their CT600s until 1 April 2011, but a new style return will be released when the new site opens for business. HMRC also advises anyone wishing to use the online system before the 23rd to do so by Wednesday 18 November. It also warned: “If you have any data saved on the current HMRC online return you must make sure that you save it onto your own computer before 19 November 2009. You won’t be able to access your data through the HMRC Corporation Tax online filing service after that date.

It also warned: “If you have any data saved on the current HMRC online return you must make sure that you save it onto your own computer before 19 November 2009. You won’t be able to access your data through the HMRC Corporation Tax online filing service after that date.”