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More than 300m pieces of XBRL data submitted online

23 April 2013
Issue: 4399 / Categories: News , Admin , Companies

HMRC marks two years of mandatory tagging

Almost 3.5m online submissions have been delivered successfully in the two years since XBRL tags became mandatory for company tax returns and their accompanying accounts and tax computations. The figure is at the top end of HMRC expectations for the period said the department and the documents have provided more than 300m pieces of XBRL data.

There will be no major change to the XBRL tagging requirement in 2013 but the Revenue says it will continue to work with software houses to develop products – including the detailed profit and loss account taxonomy that is scheduled to be launched this year.

There will then be a single tagging requirement whether the detailed profit and loss account appears in the accounts or the tax computations with the aim of ensuring users’ provision of correct information with a consistent and comprehensive set of key data.

Improvements are...

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