Who need to file in XBRL?

Applicability of Filing Financial Statements in iXBRL mode with HMRC & Companies House

HMRC (HM Revenue and Customs) is the department of the UK Government responsible for the collection of taxes.

Since 1 April 2011, for accounting periods ending on or after 1 April 2010, it is mandatory for companies to file their Company Tax Return with HMRC online using iXBRL. Companies House 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.

Company Tax Return

A Company Tax Return comprises:

  • Corporate Tax Return form (Form CT600) into XML
  • Corporation tax computation into iXBRL
  • Legal entity (statutory) accounts (UK GAAP or IFRS) into iXBRL

together with any other supporting documentation. In all cases where a Company Tax Return is filed online, the Accounts and Computations must be in iXBRL format.

Therefore if you have to prepare accounts under the Companies Act 2006, you must file your accounts and computations online in iXBRL format.

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