All corporate tax payers in the UK need to file their CT600 form with HMRC including their Accounts, in iXBRL format. Getting the financial statements tagged with the help of
Outsourcing your iXBRL work means you do not have to spend time in tagging, reviewing and generating iXBRL files.
You got time to focus on your core business
Outsourcing your iXBRL work lets you focus on your core activities, be it Accounting, Auditing, tax, etc.
Saves you money
iXBRL preparation cost starts as low as £50 for the new FRS and IFRS Accounts.
When you outsource your iXBRL work, they are handled by accounting professionals with expertise in various taxonomies approved by HMRC and industry best practices.
No investing on specialised software
There is no need to buy iXBRL software license year on year. Outsourced vendors have in-house software arrangements. There is no need to invest time in knowing how these software work.
Guaranteed filing with HMRC
All iXBRL files are test filed with HMRC gateway for guaranteed successful filing.
HMRC best practices
Outsourcing partner has a rich repository of experiences gathered over the years with thousands of iXBRL preparations. They can be relied upon to adhere to industry best practices, including HMRC recommendations.
Supporting files to review
When you use a professional service, you not only get the iXBRL file for filing with HRMC; you will also receive supporting files with XBRL tags for review and an additional file to exchange comments during the review process.
Flexible turnaround time
When you outsource your iXBRL work, you have the ability to meet your filing deadline. For example, at DataTracks, we have two turnaround options – 3 or 10 business days.
3 day TAT – Stepping into the end of the high pressure compact tax season, we understand your requirements and we are always here to just cater right to your needs. DataTracks is one of the players who have been helping their clients do a peaceful iXBRL conversion to file with HMRC even at the most crucial tax filing times.
Flexible input file format
Professional service providers have the capability to accept any input file formats. For example, at DataTracks, we accept input files in Word, Excel or even in PDF file formats.