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Myths and Legends of XBRLJanuary 29th, 2010 by Stewart McKie - Executive Advisor
I love round-up articles. You know, those pieces so beloved by editors that give a snapshot of a topic from different perspectives. That’s why this one - Regulators are champions of XBRL – fresh and pink in the Financial Times, caught my eye. Read the rest of this entry » Financial Ecosystem Set to Grow in UK?August 30th, 2009 by Stewart McKie - Executive Advisor
According to the UK’s HMRC (Her Majesty’s Revenue and Customs) website: From April 2011 under UK Government proposals, all companies, clubs, societies, associations and other unincorporated bodies who are required to make a Company Tax Return will have to: - file their company tax returns online for all returns delivered after 31 March 2011 for accounting periods ending after 31 March 2010, using a specified XBRL data standard for accounts and computations and - pay their Corporation Tax electronically. Under these proposals HMRC will not accept: - a company tax return and required attachments filed on paper when it should have been filed online - any returns filed online with accounts and computations sent as Portable Document Format (PDF) attachments – all returns delivered after 31 March 2011 for accounting periods ending after 31 March 2010, must be filed using inline XBRL (iXBRL). This means that all corporate tax filings and legal entity/group statutory accounts prepared under UK GAAP or IFRS will be filed to HMRC using a version of XBRL, significantly enlarging the taxonomy-based financial information ecosystem both in the UK and globally. Read the rest of this entry » |
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