From 1 April 2011 all corporation tax returns filed with HM Revenue & Customs have to be delivered electronically and accompanied by a set of financial statements in iXBRL format.
To the reader a set of iXBRL accounts looks like any other set of financial statements, however, embedded within the document are electronic tags which are machine readable.
Using our specialist software we can perform the tagging process for you. We will convert your existing Word or Excel accounts into iXBRL and deliver a set of accounts that meet the HMRC requirements. Different tagging lists exist for different types of company and we can deal with accounts prepared under both UKGAAP and IFRS. Our tailored approach ensures minimum impact on your business.
Our approach
| Word / Excel accounts | You send us your year end statutory accounts in their usual format once they are finalised |
| Document conversion | We will convert your original file into the new iXBRL format |
| Tagging | We will tag your accounts using the correct tagging list. You can choose to use either the minimum tagging list defined by HMRC or the full tagging list |
| Verification | We check the final iXBRL document to confirm that it will be accepted by HMRC |
| iXBRL accounts | In addition to a set of iXBRL accounts ready for filing, we will also send you a file copy which highlights all of the tagged information with details of the tags applied |
To help you decide if our partner led, high quality and reliable service is right for you, we have created a simple table of indicative prices to give you a flavour of our fees – this table is for groups which have between 5 and 50 sets of accounts that require iXBRL tagging. For more information, please contact us at iXBRL@kingstonsmith.co.uk or using our contact details below.
Alternatively, if you would like to send through your draft/final accounts to iXBRL@kingstonsmith.co.uk, we will email you a fixed price quote within 24 hours.
| Size of company | UKGAAP | IFRS |
| | |
| Dormant (if they require filing) | £150 | £150 |
| FRSSE/small (less than 12 pages) | £325 | £375 |
| Medium (13 to 25 pages) | £450 | £475 |
| Large (25 pages +) or Plc/AIM/PLUS | £550 | £595 |
| Consolidated | £550 | £595 |
These indicative prices are per company, per annum, and exclude VAT and disbursements.
For groups with more than 50 sets of accounts, we would provide a tiered reduction in these indicative prices:-
51 to 75 sets – 10% reduction
76 to 90 sets – 15% reduction
91 sets or more – 20% reduction
If you have a standalone company, or have 4 or less sets, please contact us for a bespoke quote at iXBRL@kingstonsmith.co.uk.