HMRC Filing
iXBRL TAGGING FOR CT600
Businesses in the UK are required to file their financial statements in Inline XBRL (iXBRL) format with HMRC, as per the guidelines set by the regulator. HMRC has mandated that all tax returns and financial statements need to be submitted in iXBRL format for accounting periods ending after March 2010 and accounts filed after March 2011.
CT600 Filing
A CT600 refers to a company’s corporation tax return. When the ‘notice to deliver a Company Tax Return’ from HMRC is received, the company is required to file their tax returns to HMRC online. This includes a wide range of information along with the CT600 form. It is mandatory to submit the company’s computations and accounts to HMRC in iXBRL format.
MTD for VAT
HMRC has taken a major step forward in its ambition to become one of the most digitally advanced tax administrations in the world with the introduction of Making Tax Digital for VAT. Initially VAT-registered businesses with annual taxable turnover above the £85,000 VAT threshold were required to submit their VAT returns through for VAT periods starting on or after 1 April 2019. MTD is extended to smaller VAT filers for VAT periods starting on or after 1 April 2021.
CbCR
The BEPS (Base Erosion and Profit Shifting) Action Plan 13 describes the Country-by-Country Reporting (CbCR) framework and template for Multinational Enterprises (MNEs) in order to share the information with the tax authorities of all the countries in which they have their tax presence. MNEs having annual turnover more than 750 Million Euros (or equivalent in other currencies as specified by the respective countries’ tax regulators) are required to file their reports to their regulator in XML format.
Cloud Solutions for EBA, ESMA and EIOPA
Investment firms, Banks, Insurance and Reinsurance companies in the European Union have to submit regulatory reports as mandated by directives of ESMA, EIOPA and EBA. DataTracks provides solutions to help comply with the requirements of various local and apex regulators across the EU.
Why DataTracks?
With more than 195,000 compliance reports prepared and with footprints across the globe, DataTracks has become the lingua franca in compliance reporting.
- Honed by an experience of preparing more than 60,000 iXBRL files for HMRC
- Pre-validation with HMRC gateway for submission
- Any number of revisions at no additional cost till successful filing with HMRC
We have been handling sensitive financial data (in regulatory filings) for more than 16 years.
Security:
Our delivery centers are certified for ISO 27001:2013 information security management system by TUV of Germany.
Quality:
We are certified for ISO 9001:2015 quality management system by TUV of Germany.
Controls:
We are audit compliant with service organisation controls as per ISAE 3402 guidelines.
- Easy to use portal
- Competitive prices and choice of TAT
- Single point account manager
- Customer care and support till you file your tax return
We have expertise in accounting taxonomies based on UK GAAP, IFRS, New UK GAAP (FRS 101, 102), Irish GAAP, US GAAP, Singapore FRS and India GAAP. We use our proprietary iXBRL tagging software developed in-house to prepare iXBRL instance documents. We keep the tagging engine updated with changes in taxonomies.
- One of the first managed tagging service providers to be recognised by HMRC
- Servicing top public accounting firms in the UK
- 16+ years track record and over 200,000 filings
- Serving over 19,900+ clients
