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When is iXBRL required by HMRC

HMRC have asked me to decide whether a client should report in iXBRL format. How do I know ?

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I filed a PDF C. Tax return for a new client last year. A very small firm with TO under £50.0K. Now I have received a letter from HMRC asking whether I should report in iXBRL format. Should I just say No!

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By Matrix
25th Apr 2019 17:14

What is a pdf tax return? Do you mean you attached the accounts as pdf?

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By Cloudcounter
25th Apr 2019 17:28

No. You should either file in iXBRL or explain to HMRC which exemption entitles you to file pdf accounts. (Hint - just being a small company does not)

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By Matrix
25th Apr 2019 17:34

I also don’t think you should be charging clients for work which you are unable to do properly. You sent them a tax return to sign which would have been incorrect (unless there was an exemption).

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RLI
By lionofludesch
25th Apr 2019 19:00

If HMRC are asking, they don't know.

So just say no if you don't want to.

For me, it's not a big deal. The software does the work OK. But, if it was an issue, I'd play the unreasonable cost and effort card.

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By david alexander
25th Apr 2019 22:46

Thanks everyone for your replies. All most helpful. I guess I will have to embrace iXBRL Any ideas about cheap and easy conversion software from PDF?

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By david alexander
25th Apr 2019 22:46

Thanks everyone for your replies. All most helpful. I guess I will have to embrace iXBRL Any ideas about cheap and easy conversion software from PDF?

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By paulhammett
26th Apr 2019 07:29

Try Taxfiler. Not expensive.

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By Homeworker
29th Apr 2019 10:40

We use VT to prepare accounts and convert to iXBRL format. Easy and inexpensive.

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All Paul Accountants in Leeds
By paulinleeds
29th Apr 2019 20:25

I think that I would download a PDF copy of your PII cover from your insurers and read it well.

How can you be dealing with client affairs if you do not know that CT Returns, accounts and tax calculation must be filed and tagged in iXBRL format?

This process has been in place for years.

Your website even says that your services include:
…….
◾Corporation Tax Returns (is that PDF or iXBRL?)
◾Statuatory Law (misspelt)

Your own website stated that you have "over 20 years’ experience in management accounting".

You need to now learn about 'financial accounting'.

With respect, stay aware from limited companies until you have done some serious CPD!

Are you seriously charging £21 per hour? That would seriously concern me as a client of your firm.

Pay peanuts and you get monkeys

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