XBRL: Filing under the new accounting standards

19 May 2014

Andrew Hughes

HMRC NL Standard | 05/08/2013 | 2Protective marking – Unclassified

XBRL: Filing under the new accounting standards

HMRC filing requirement unchanged

• Accounts required as part of company tax return

• HMRC require the accounts a company has prepared under the Companies Act

• Must be submitted online

• Accounts and computations must be in iXBRL

HMRC NL Standard | 05/08/2013 | 3Protective marking – Unclassified

XBRL: Filing under the new accounting standards

New Accounts Taxonomy - Implementation

• TPVS - October 2014

• Live - December 2014

• Changes to:Joint filing validation rules

Generic dimension validation

• New FRS DPL Taxonomy version

(TPVS Feb15, live April 2015)

• Mandatory - April 2015

• No MTL

HMRC NL Standard | 05/08/2013 | 4Protective marking – Unclassified

XBRL: Filing under the new accounting standards

Going forward

• Transitional Arrangements

• Revised Accounts Taxonomy

Maintenance and extensions

• Revised CT Comp Taxonomy

Budget changes

CT600 Version 3

• Implement Micro Entities provisions

• Improve tagging quality

HMRC NL Standard | 05/08/2013 | 5Protective marking – Unclassified

XBRL: Filing under the new accounting standards

Questions/Comments?

Thank you

Andrew HughesCT Process TeamCTISAHM Revenue & Customs