From 1 January 2010, legislation has been in place in the U.K. that requires companies to file their accounts and computations with HMRC in Inline XBRL (iXBRL) format in respect of returns submitted on or after 1 April 2011. There … Continue reading →

Since April 2011, legislation has been in place in the UK that requires the vast majority of companies to submit their corporation tax returns and accompanying financial statements in iXBRL format to HMRC. As a result, companies – especially large … Continue reading →

Have you been issued a penalty notice from HMRC for not filing your corporate tax returns? Worry not. You may still be exempt from late filing penalties if you are victim to a valid, excusable reason. In the UK, companies … Continue reading →

The Financial Reporting Council (FRC) has made updates to iXBRL taxonomies that will take effect on or after 1 January 2019. Keeping with the recent amendments, FRC has also said that early adoption will be accepted only if both the … Continue reading →

Revenue Ireland introduced additional taxonomies (FRS 101, FRS 102 and EU IFRS with Irish extensions) on 16th December 2016, as a Public Working Drafts (PWD). Interested parties were invited to review the PWDs for the three additional taxonomies and provide … Continue reading →

Issuers listed on stock markets in the EU are governed by the European Transparency Directive. This directive requires such listed companies to prepare and submit financial reports in a European Single Electronic Format (ESEF). European Securities and Markets Authority (ESMA) … Continue reading →

The Phase 1 and Phase 2 Corporation Tax filers were filing financial statements in iXBRL format in reference to the GAAP and IFRS taxonomies accepted by Revenue until last year. Revenue introduced additional taxonomies (FRS 101, FRS 102 and EU … Continue reading →

All corporate tax payers in the Ireland need to file their CT1 form with Revenue including the Accounts, in iXBRL format. There are several ways corporations can fulfil this requirement including, in-house, getting it done through the Accountants/Tax Advisors, or … Continue reading →

Revenue has notified that it has extended iXBRL filing deadline by 3 months from Form CT1 due date. This notification has the following effect (example for accounting period end 31 December, 2015): Accounting period end 31 December 2015 Form CT1 … Continue reading →

DataTracks offer a fully assisted outsourced service for iXBRL conversion of financial statements. With more than 35,000 iXBRL statements prepared, our solution is sought after for its easy and user-friendly interface, quick turnaround time, customized packages to suit organizational needs, … Continue reading →