Companies House drops iXBRL mandate
National filing company drops compulsory uptake date
COMPANIES HOUSE has dropped its mandate of new technology iXBRL.
HM Revenue & Customs mandated that the technology must be used for all corporate tax filings made after 1 April this year, with Companies House setting its own deadline for March 2013.
However, because uptake of the software has been so widespread, the organisation has announced it will no longer enforce its 2013 deadline.
A spokesman for Companies House said it would continue with voluntary sign-up to iXBRL and accept filings using the format.
He added the government is keen to reduce regulatory burden on companies, and Companies House could achieve the same number of businesses using iXBRL without the need to mandate a deadline.