TechnologyAccounting SoftwareIris in bloom over new tax filing standards

Iris in bloom over new tax filing standards

Iris makes iXBRL compliance a year early

Iris’ practice software modules are compliant with new tax filing standards,
a year ahead of the deadline.

Practice Suite, PTP and Drummohr Iris tax packages comply with iXBRL ahead of
HM Revenue & Customs’ 31 March deadline for filing tax returns using the new
format.

Electronic tax filings will require “tagging” using iXBRL. Tagging financial
data allows for easier compatibility between different companies’ information.

“The transition to iXBRL is a cause of concern for many firms. However our
first iXBRL tax computation filing experience with the new Iris software
release, has given me a very welcome degree of reassurance that the process can
be straightforward and painless,” said
AC Mole &
Sons
partner Paul Aplin.

Further reading:

iXBRL
likened to Y2K

Profession
pans plan to postpone IFRS

HMRC
to allow electronic P60s

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