iXBRL Electronic Accounts Tagging

From 1 April 2011 all Corporation Tax Returns must be filed online with the computation and accounts attachments in iXBRL format

What is iXBRL?

iXBRL is a means of translating financial information into a format suitable for a computer to read.  Each item in the accounts is given an individual tag or code and is displayed in a web format page readable to a computer and a human reader.  This is then submitted to HMRC and processed by their central databases.

 

Evolution can help you make the change

Many businesses are finding that the cost of converting their accounts to iXBRL format is staggering using their current tax advisers, especially if their accounts are produced in Word or Excel format.  In response to this we have created a dedicated in-house iXBRL team and chosen a reputable software supplier to work with so that we can offer businesses a more cost effective alternative.  Our team has been highly trained to correctly tag all accounts, irrespective of the complexity of disclosures.  We test the filing using HMRC’s testing facility and provide you with confirmations of acceptance so you have complete peace of mind that your returns have been correctly filed.

Our iXBRL service represents excellent value for money and is offered at a very competitive rate.

Click here to see a flowchart of how our iXBRL service works.  If you would like to discuss this service or any other aspect of your business further, please contact us or call Joanne Regan on 01642 221 331 or by email joanne.regan@evolutionllp.com - Joanne will be happy to help.