A brief about how and when iXBRL came into effect in the UK and the applicability criteria. Further, get to understand the iXBRL format.
Legislation, which came into force on 1 January 2010, means that it is compulsory for companies to send their Company Tax Returns online using iXBRL for accounts and computations. It will no longer be acceptable for most companies to send either the accounts or computations on paper or as a PDF attachment to an online return. Unincorporated charities, clubs and societies may use either iXBRL or PDF for their accounts, but any computations must be in inline XBRL format. The new requirements are effective for returns delivered on or after 1 April 2011, for any accounting periods ending after 31 March 2010.
The iXBRL format being used in the UK for company reporting is known as Inline XBRL or iXBRL. This consists of a human-readable report, which has iXBRL tags embedded in it. The human readable text is effectively HTML - the basic language of the web. The web file contains the iXBRL tags, which are hidden and only displayed to human eyes when required by software.
The inlineXBRL format, technology, taxonomy and all concepts associated to it are under constant development. Some new and emerging concepts are iXBRL For “Glossy” Reports a preview of the report can be seen here.
From 1 January 2010, it is compulsory for all companies to send the Company Tax Returns online using iXBRL for accounts and computations.
Which means it is applicable to companies whose accounts are prepared under one of the following accounting frameworks:
and for charities that prepare statements under the Statement Of Recommended Practice (SORP) (FRS 102).
Companies House the UK Business Registry has made available and free of charge the Accounts of the companies in XBRL. Visit the link to view accounts of the companies.
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For queries on taxonomy, software and validation issues contact us.
A brief about how and when iXBRL came into effect in Ireland and the applicability criteria. Further, get to understand the iXBRL format.
Ireland's ROS (Revenue On-line Service) began accepting the iXBRL Files from Corporation Tax payers from Nov 2012. Income Tax payers could voluntarily file iXBRL files from Jan 2013.
Submission of iXBRL format became mandatory as per Phase 1 from Oct 2013. It is mandatory for customers of Revenue's Large Cases Division customers filing Corporation Tax returns.
From 1 May 2014 filing in iXBRL will become mandatory for customers of Revenue's Large Cases Division (LCD)
From 1 Oct 2014 iXBRL filing is mandatory for all Revenue customers filing Corporation Tax returns (Non-large Cases Division), except those meeting iXBRL exemption criteria*
Revenue's Large Cases Division companies must submit iXBRL financial statements for accounting periods ending on, or after, 31 December 2012.
S.110 Special Purpose Vehicles must submit iXBRL financial statements for accounting periods ending on, or after, 31 July 2013.
All other Corporation Tax filers must submit iXBRL financial statements for accounting periods ending on, or after, 31 December 2013 unless their:
Companies and sole traders who have no obligation to submit iXBRL financial statements may do so voluntarily.
Financial statements must be filed in inline eXtensible Business Reporting Language (iXBRL) through Revenue Online Service (ROS). You can find detailed information in part 4 of the Submission of iXBRL financial statements with Corporation Tax returns manual. iXBRL financial statements must include:
This list is not exhaustive. Each item in the financial statements must be fully tagged. You can find further information on tagging in the Technical information section.
As iXBRL filers do not complete the CT1 “Extracts from Accounts”, they must tag some mandatory items in their iXBRL submissions. These mandatory items (in table below) are for submissions that use the following taxonomies:
CT1 Mandatory item | iXBRL Mandatory item | Taxonomy |
---|---|---|
Sales / Receipts / Turnover | DPLTurnoverRevenue | DPL |
Receipts from Government Agencies | DPLGovernmentGrantIncome | DPL |
Other Income | DPLOtherOperatingIncome | DPL |
Gross Trading Profits | DPLGrossProfitLoss | DPL |
Salaries / Wages, Staff Costs | DPLStaffCostsEmployeeBenefitsExpense | DPL |
Sub-contractors | DPLSubcontractorCosts | DPL |
Profit (loss) on ordinary activities before taxation | DPLProfitLossBeforeTax | DPL |
Shareholder's Funds | Equity | FRS/IFRS |
If a company has no values for any of these items, then you must report a zero value. Please see Part 3.1.3 of the Submission of iXBRL financial statements with Corporation Tax returns manual for further information.
The format of profit and loss accounts required by the Companies Act does not have the level of detail that Revenue requires. Therefore, a fully tagged DPL is required with every iXBRL return filed from 1 December 2015. All companies must include a DPL, including those not bound by the Companies Act.
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Convert PDF to iXBRL format, Word to iXBRL, or Excel to iXBRL.