PRIVATE SECTOR IT SYSTEMS FARED worse than HM Revenue & Customs’ when filing corporate tax returns under the new iXBRL format.
HMRC required all corporate tax returns to be filed online from 1 April using the new iXBRL technology. Filers could use software bought from their own suppliers or use systems provided by the Taxman.
HMRC’s systems fared better than those of software vendors, with 94% of iXBRL corporation tax filed successfully using its software, compared to a 65% success rate from all private IT providers.
For the month of April, one in three businesses failed to successfully submit corporate tax returns and had to re-submit. HMRC said it would take a sympathetic approach to any mistakes made in the first year of the technology’s introduction.
A spokesman for HMRC said rejection can be due to an error or an individual re-submitting their corporation tax return.
“The most common ‘error’ causing a ‘rejection’ of the HMRC software generated return was a re-submission of a return that had already been filed successfully,” he said. “This most likely occurs when a customer submits a return but then resubmits before the ‘successful’ response to the first submission has been received.”
Digita was unable to provide a breakdown of its figures at the time of publication.
Join Financial Director and Oracle in this free web seminar to find out how finance departments are adapting to the digital transformation of the finance function
Flourishing adult colouring book industry could be facing a bill for millions in VAT payments
The authentication service citizens will need to access before entering their digital tax account is close to going live
Three men involved in the elaborate fraud were handed jail sentences for their crimes