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Demystifying XBRL

KPMG have published some useful guidance for UK corporations in a short paper called Demystifying XBRL. Despite starting with the rather odd assertion that XBRL tags work in a similar way to barcodes (er, no), the paper has lots of great advice for prospective UK filers of iXBRL-based Corporation Tax (CT) returns – especially in sections 6-8. The paper supports the upcoming UK iXBRL Roadshow, which no matter how you spin it, just doesn’t sound that exciting…


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This entry was posted on Wednesday, February 17th, 2010 at 4:32 am and is filed under XBRL. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

  • Chris Turner

    iXBRL filing in the UK has potential to descend into chaos – the HMRC website currently lists 3 software providers who HMRC has certified as being able to produce a set of accounts in the required format. Two of those in fact haven't launched their product yet whilst the third can only produce accounts in a generic format – larger companies will want to use their own.

    We're crying out for a tagger like Dragon Tag that will handle iXBRL. I've found one, quoted at £12k. £12k additional expense just to be able to file a tax return! The HMRC penalties for late filing would be less.