Tax bodies call for iXBRL filing delay
The Chartered Institute of Taxation (CIOT) and the other five main professional tax and accountancy bodies have called on the government to delay its plans for compulsory iXBRL online filing.
All six have jointly written to the Exchequer Secretary to ask the government to reconsider the timing of the plans, which are expected to come into force from 1 April.
Given HMRC’s firm commitment to this implementation date over the last few years it seems unlikely they will pander to this request, but in the context of the Bribery Act introduction, anything is possible.
It's significant that all the bodies have clubbed together to request the delay now - the day after the self assessment deadline fell - but very late in the day to do so.
There is growing concern that many businesses will not be ready for the deadline, particularly after
that its accounts production programmes would not be ready in time.
Anthony Thomas, CIOT deputy president, said: “With only two months until the planned mandatory implementation of iXBRL online filing, our members and other businesses are facing implementation problems. Two substantial providers of accounts preparation software have failed to deliver their iXBRL-enabled software products.