On 1 February ACCA and five other tax and accountancy bodies wrote to David Gauke MP, exchequer secretary to the Treasury, to express our concern about the forthcoming mandatory requirement that all UK companies should submit statutory accounts to HMRC in iXBRL format.
HM Treasury has replied to the letter and rejected the request for companies to be allowed to file in PDF, saying that 'mandation of online filing will go ahead as planned on 1 April'. It also says 'no-one who makes a reasonable effort to comply will be penalised' and has stressed that this is a key area of HMRC's guidance.
View both our letter and HM Treasury's reply in the related documents section of this page.
Following the letter from the Treasury, HMRC has published revised guidance highlighting its advice on how to 'manage the transition' to online filing of 'company tax returns', including advice on tagging and penalties.
If you have any comments on the guidance, please email them to us at email@example.com