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01 Feb 2011
THE LARGEST ACCOUNTANCY INSTITUTES in the country have banded together in the hopes of pushing back a new tax filing technology deadline.
From 1 April all corporation tax must be filed to HM Revenue & Customs using new data-tagging technology known as iXBRL.
Five of the main institutes have written to the exchequer secretary to the Treasury, David Gauke, requesting the government push back the implementation deadline.
Anthony Thomas, CIoT deputy president, said: "With only two months until the planned mandatory implementation of iXBRL online filing, our members and other businesses are facing implementation problems."
Thomas said although he was "enthusiastic" about iXBRL technology, companies are not ready for the change.
The letter was signed by; Anthony Thomas, deputy president CIoT; Chas Roy-Chowdhury, head of taxation ACCA; Donald Drysdale, assistant director taxation ICAS; Simon Braidley, president ATT; Frank Haskew, head of tax faculty ICAEW; and Aleem Islan, technical manager AAT.
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Briefings
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Institutes
I think the institutes would have been better representing their members by offering training on this new filing regime, rather than waiting until the 11th hour to club together to call for a delay. What happens then? wait until the next mandation date and call for another delay. Come on guys its not rocket science just the people in the know do not want to pass on knowledge to others. I think having the 'inventors' of iXBRL being a main supplier of the software must have some conflict of interest theme going on.
Posted by: Simon Harris, 01 Feb 2011 | 13:15
Softpark 21 (India) becomes India's first company to win HMRC UK recognition for iXBRL
Softpark 21 (India), India’s First Company to be Recognized by HMRC, U.K. for its iXBRL-Compliant ResearchPoint Platform
New Delhi, India – February 2, 2011
Softpark 21 (India), a leading Indo-US software company since 1993 and a specialist in XBRL (eXtensible Business Reporting Language) automation software, is pleased to announce that it has become the first and only Indian firm today to receive HMRC, U.K. recognition for its ResearchPoint-XBRL platform in all three iXBRL categories.
We are very excited that regulators in UK have recognized our state-of-the-art XBRL solution and services. With HMRC recognition we are ready to serve U.K. customers for their iXBRL filing needs starting April 1, 2011.
For more information on HMRC & iXBRL visit www.hmrc.gov.uk/efiling/ctsoft_dev.htm
Posted by: Arun Bhatnagar, 02 Feb 2011 | 05:34