Introduction

Her Majesty’s Revenue and Customs (HMRC), UK, requires all UK-based companies, including listed companies, SMEs and foreign subsidiaries operating in the UK, to file their Company Tax Returns (including annual accounts and computations) in iXBRL format with the tax authority. The requirements to file in iXBRL are effective for returns filed after April 1, 2011 for accounting periods ended on or after April 1, 2010. Companies House has also jointly announced with HMRC in September 2009 that it would adopt the same iXBRL format for online submission of accounts. This means that the statutory accounts that must be prepared for company shareholders and that are also sent to HMRC as part of the Company Tax Return will also be accepted by Companies House online. Although Companies House has not yet mandated iXBRL format for such filings, it is currently accepting them on a voluntary basis.

For better understanding, please refer the below mentioned various aspects related to iXBRL Filing:

Why XBRL is required?

XBRL offers many benefits viz. Improved reporting, Automated data collection, Reliability & accuracy, Cost effective, Time saving, Better decision making…

Who need to file in XBRL?

All companies are required to file their Company Tax Returns (including annual accounts and computations) in iXBRL format with the tax authority...

What is required to be filed?

Full set of financial statements is required to be filed in iXBRL format with the HMRC and Companies House…

When you need to file?

All the Companies required to file their financial statements must file the financials after the end of its financial year…

How to prepare and/or file?

Preparing financial statements in iXBRL mode: The process for creation and filing of Financial Statements in iXBRL mode is as under…

What if there is delay or non-filing?

In case the Company makes delay in filing or fails to file the financial statements, late fees and penalty is applicable…

How we can serve?

XBRL Experts offers full service for all of your iXBRL filing needs. We provide compliance with the most current filing requirements…

What is our process?

It is a simple 4 step process to convert your financial statements to iXBRL format for filing with HMRC & Companies House…

Why XBRL Experts?

Experienced Team

We hire only seasoned, professionals with relevant experience. Our team members are periodically trained on various aspects related to XBRL, Accounting and Secretarial matters. Each reviewer of XBRL report is having professional degree and experienced in preparing minimum 200 XBRL reports.

Accuracy of Reports

Our service process has in-built preparer-checker mechanism and random audits to ensure that the final XBRL reports are accurate and meets the requirements of the Statute and customer’s expectations. Our processes are certified for ISO Quality Standards.

Customer Satisfaction

Our vision is to ensure our customers are satisfied with our services and will not be reluctant to use our services again or refer us to their network. Further to be noted that client needs to pay us only after completion of service.

Data Security

We strictly adhere to regulations related to secure handling of client data. All data are hosted in a secure server. We audit our process periodically for data security and are certified with ISO.

Quick Turnaround

Sometimes customers need the XBRL report within a very short time or sometimes it could be few weeks. Our service delivery model is flexible enough to meet these requirements in a Cost effective manner.

Cost Effective

Our main focus is to provide Cost Effective services without downgrading tagging quality. Further there are no hidden charges – charges are not dependent on file size.

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