iXBRL for Accounts?
Discussion
From what I have seen, very few companies appear to be uploading iXBRL versions of their accounts to Companies House.
A high percentage continue to upload scanned copies of wet-signed accounts in pdf, and assume that appear to be unsigned have been filed online in some way, but not in iXBRL format.. (i.e., the free CH tool, or perhaps sing TaxCalc?)
What gives?
I thought that I had read that iXBRL formatting was mandatory for accounts years ago; or has it been kicked into the long grass (tax may be different)?
A high percentage continue to upload scanned copies of wet-signed accounts in pdf, and assume that appear to be unsigned have been filed online in some way, but not in iXBRL format.. (i.e., the free CH tool, or perhaps sing TaxCalc?)
What gives?
I thought that I had read that iXBRL formatting was mandatory for accounts years ago; or has it been kicked into the long grass (tax may be different)?
Edited by Mogul on Wednesday 18th October 12:35
ixbrl isn't mandatory yet although there are all sorts of plans by Companies House - it is a can that may get kicked further down the road due to the hassle it will cause.
You can only use ixbrl if you have specialist software and not everyone does - plenty folk still use word, or may want to produce the accounts in a format that the software can't generate directly. Plenty of our company accounts still get electronically signed or even sometimes wet signed, then printed and posted off to Companies House (for viewers in Scotland, now Cardiff as Edinburgh Companies House stopped taking them recently) who scan them on.
Most of the accounts I work on are not produced using software and can't be efiled anyway (charities).
There is a system for uploading scans of signed accounts directly, but it can't be used for audited accounts or charities. I have no idea why given all Companies House do when they get a hard copy from us is scan it onto their system and upload it themselves.
You can only use ixbrl if you have specialist software and not everyone does - plenty folk still use word, or may want to produce the accounts in a format that the software can't generate directly. Plenty of our company accounts still get electronically signed or even sometimes wet signed, then printed and posted off to Companies House (for viewers in Scotland, now Cardiff as Edinburgh Companies House stopped taking them recently) who scan them on.
Most of the accounts I work on are not produced using software and can't be efiled anyway (charities).
There is a system for uploading scans of signed accounts directly, but it can't be used for audited accounts or charities. I have no idea why given all Companies House do when they get a hard copy from us is scan it onto their system and upload it themselves.
Mogul said:
From what I have seen, very few companies appear to be uploading iXBRL versions of their accounts to Companies House.
A high percentage continue to upload scanned copies of wet-signed accounts in pdf, and assume that appear to be unsigned have been filed online in some way, but not in iXBRL format.. (i.e., the free CH tool, or perhaps sing TaxCalc?)
What gives?
I thought that I had read that iXBRL formatting was mandatory for accounts years ago; or has it been kicked into the long grass (tax may be different)?
There's a difference between an electronic submission to companies house and providing ixbrl file to hmrc.A high percentage continue to upload scanned copies of wet-signed accounts in pdf, and assume that appear to be unsigned have been filed online in some way, but not in iXBRL format.. (i.e., the free CH tool, or perhaps sing TaxCalc?)
What gives?
I thought that I had read that iXBRL formatting was mandatory for accounts years ago; or has it been kicked into the long grass (tax may be different)?
Edited by Mogul on Wednesday 18th October 12:35
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