ACCOUNTANCY SOFTWARE giant Sage has delayed the release of its updated iXBRL software until after the mandatory HM Revenue & Customs deadline.
HMRC has mandated that from 1 April all corporation tax must be filed using the new tagging technology, but while Sage has said it will have a basic iXBRL “template” available before the deadline, the full release will not be made available in time.
“We could have released it but we didn’t want to in the busiest quarter for accountants,” said Jayne Archbold, MD of the accountants’ division at Sage.
She added that the company wanted to support accountants through this period, and ensure the product was vigorously tested before general release.
Archbold stressed iXBRL was just one part of the new software which will have various updates. A release date has yet to be announced.
HMRC said it was aware Sage would not deliver iXBRL products to the software company’s previously set timetable.
“Sage has told HMRC that it will be delivering, by the end of January, an interim solution which will enable its customers to file online with iXBRL,” said an HMRC spokesman.
“HMRC is working with Sage and its customers to understand the implications of this for Sage customers.”
iXBRL (inline eXtensive Business Reporting Language) allows information in documents to be electronically tagged for easier comparison.
HMRC currently provides free iXBRL software with the minimum requirement of tags, or taxonomies – around 1,200, which is aimed at smaller business. The IT industry was left to create software that could house the full taxonomies list, which runs into the thousands, aimed at larger organisations.
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