Companies House will soon be accepting company accounts filed in Inline XBRL (iXBRL), the same data format as that used by HM Revenue & Customs.
The move aims to reduce complexity when filing accounts and reduce the administrative burden on businesses.
Companies House will introduce its iXBRL service for unaudited full accounts by the summer of 2010, and then continue to develop its iXBRL capability for other key types of accounts.
Company Tax Returns (CTRs) - including the return form, company accounts and tax computations - must be submitted online to HMRC from April 2011 (for accounting periods ending after 31 March 2010). HMRC's new iXBRL service for CTRs will be available from November 2009.
Mark Holden, programme director of HMRC's Carter Programme, which is responsible for enhancing HMRC's online services, said the move was 'an important step towards our goal of offering a joint filing facility for company accounts and company tax returns, as recommended by Lord Carter's Review of HMRC's Online Services'.
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