Corporation Tax online filing
As our readers will be aware, HMRC is introducing compulsory online corporation tax filing for company tax returns delivered after 31 March 2011 for accounting periods ending after 31 March 2010.
The company Tax returns must be filed using the iXBRL data standard using either HMRC’sown software or third-party commercial software. Businesses that use third-party commercial software should refer to the HMRC recognised commercial software.
HMRC have amended the way that they present the list of approved suppliers into two main lists.
The second list is divided into three main sub-categories.
- Software applications that produce and submit a CT600 with PDF
- Software applications or services that produce iXBRL Accounts and/or iXBRL Computations.
– Integrated Software Applications
– Managed Tagging Services
– Conversion Software Applications
HMRC of course remind businesses that they will not recommend or endorse one product over another and do not provide any support for commercial software.
In the run-up to the introduction of compulsory online filing, businesses should carry out a proper investigation to decide what software functions are required and which software is most suited to their individual filing requirements.
The full list of approved software at 13 July 2010 is available from http://www.hmrc.gov.uk/efiling/ctsoft_dev.htm. The list is expected to be updated frequently as new software suppliers are added.