iXBRL

 

How Does iXBRL Affect My Business’ Accounts Preparation and Reporting Process?

07 Dec, 2018  Posted By Thenvi Subin   Posted in iXBRL
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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

 

The Importance of Finding the Right Managed Tagging Service Provider

25 Oct, 2018  Posted By Shabeer   Posted in iXBRL
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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

 

Missed your Corporation Tax filing deadline with HMRC? You can still avoid late filing penalties

21 Sep, 2018  Posted By Shabeer   Posted in iXBRL
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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

 

Financial Reporting Council (FRC) updates iXBRL taxonomies, effective on or after 1 January 2019

17 Aug, 2018  Posted By Shabeer   Posted in iXBRL
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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

 

Ireland Revenue accepts new iXBRL taxonomies – Irish GAAP (FRS102), FRS101 and EU IFRS

27 Jun, 2017  Posted By Balaji M   Posted in FRS102, iXBRL, Revenue, XBRL
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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

 

ESMA Initiates Inline XBRL Testing

26 Jun, 2017  Posted By Balaji M   Posted in ESMA, iXBRL, Revenue, XBRL
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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

 

Revenue Ireland introduces additional taxonomies in iXBRL

13 Feb, 2017  Posted By Balaji M   Posted in iXBRL, Revenue
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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

 

Your smarter choice for iXBRL preparation

25 Jan, 2017  Posted By Balaji M   Posted in iXBRL, Revenue
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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 Ireland extends iXBRL filing deadline by 3 months

15 Sep, 2016  Posted By Balaji M   Posted in iXBRL, Revenue
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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

 

Accountex 2016: iXBRL compliance reporting in 3 easy steps with DataTracks

11 May, 2016  Posted By admin   Posted in iXBRL

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

 

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