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.
From 1 April 2011 company tax returns must be filed using the iXBRL data standard using either HMRC’s own software or third-party commercial software. In this context HMRC will not recommend or endorse one product over another and do not provide any support for commercial software. HMRC do however regularly update a list of approved commercial software suppliers.
The latest update on 24 May now comprises two main lists, the second of which 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
Anyone filing company accounts and/or tax returns will need to ensure that their preferred software will be iXBRL compliant and make time to ensure that all relevant tags have been identified before April 2011.