Managed Tagging Services
After the transition to iXBRL in 2011, companies in the UK now have more than one option to handle their iXBRL requirements.
These range from having an Accounts Production Software (APS) with iXBRL capability to engage an audit or accountancy practice to handle all compliance work, or utilising a tagging software and engaging in-house iXBRL experts.
But, for businesses not using an APS, and producing final accounts in Word, Excel or similar, utilising a Managed Tagging Service (MTS) is definitely a better option.
The main advantages of engaging a tagging service provider like DataTracks are:
• Existing processes and systems can remain largely undisturbed
• The business and its management are relieved of a low value added task
• It involves low up-front investment so it keeps future options open
• It costs less than alternatives
In addition to the iXBRL conversion services, we also assist our clients in filing their Corporation Tax Returns to HMRC.
It is mandatory to submit the company’s tax computations and accounts to HMRC in iXBRL format. We can help you complete the CT600 filing process with HMRC along with iXBRL tagging of the financial statements and tax computations.
Note: DataTracks does not offer tagging of tax computations or preparation and filing of CT600 as standalone services.