HMRC offers extra guidance on accounts filing programme
HM Revenue and Customs (HMRC) has published additional guidance on how firms can best adopt the new compulsory format for filing company accounts online.
The new format is eXtensible Business Reporting Language (XBRL).
Regulations that came into effect on 1 January 2010 mean that it is compulsory for companies to send their company tax return online using iXBRL for accounts and computations.
It will no longer be acceptable for most companies to send either the accounts or computations on paper or as a PDF attachment to an online return.
Unincorporated charities, clubs and societies may use either iXBRL or PDF for their accounts, but any computations must be in iXBRL format.
The new requirements are effective for returns delivered on or after 1 April 2011, for accounting periods ending on or after 1 April 2010. Companies must also make corporation tax payments electronically from 1 April 2011.
The guide offers advice on what XBRL is and on how it can be adopted for filing company accounts to both HMRC and Companies House.
The guide is available at: http://www.hmrc.gov.uk/ct/ct-online/file-return/xbrl-guide.pdf