HMRC Filing
iXBRL
Businesses in the UK are required to file their financial data 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.
MTD for VAT
HMRC has taken a major step forward in its ambition with the introduction of Making Tax Digital for VAT. VAT-registered businesses with annual taxable turnover above the £85,000 VAT threshold are now required to use the MTD service to keep records digitally and use software to submit their VAT returns for VAT periods that started on or after 1 April 2019.
DataTracks helps companies and accounting firms convert financial statements and tax computations in iXBRL format enabling them to file Corporation tax, and also file their VAT returns digitally with HMRC.
CbCR
DataTracks provides software and service for CbC Reporting in XML as per OECD Standards.
Service: DataTracks provides services to multinational enterprises to meet their country-by-country reporting requirements.
Software: DataTracks CbC cloud application helps multinational enterprises to prepare their country-by-country reporting requirements.
Eurofiling
DataTracks provides regulatory reporting solutions for the European Union and UK investment firms, banks or insurance companies while understanding the different regulatory reporting needs.
Why DataTracks?
With more than 164,000 iXBRL statements prepared and with footprints across the globe, DataTracks has become the lingua franca in compliance and financial 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 14+ years. We host our website (that receives inputs and returns outputs) and store all data in a high quality and well-protected Data Centre in the UK. Data is securely accessed for iXBRL preparation, from our delivery centres that are certified for ISO 27001:2013 information security standards.
- Your data is secure and is protected against intrusion and is backed up on a regular basis. We access your data in a safe way.
- Our delivery centres worldwide are secure environments. The delivery centres we use are ISO 27001:2013 certified for information security management. Entry to our secure iXBRL delivery centres is restricted to authorised staff alone. All entries/exits are controlled, monitored and recorded. Our delivery centre networks are ring-fenced by firewalls that control access, protect our databases, detect intrusion and provide logical security. We use open standard encryption for better protection.
- Our delivery centre is free of any recording device including access to internet, access to emails outside a closed user group, writing devices on our PCs (including CD/DVD drives, USB flash memories, floppy drives). We prohibit pen, paper, cameras and mobile phones with any kind of recording device into our delivery centres.
- We are a corporation with world class corporate governance. DataTracks shall deal with customers, suppliers, government, employees, competitors and community in a fair manner with honesty, integrity and ethics. DataTracks shall not strive to take unfair advantage through any unfair practice.
- Our employees are covenanted to respect your rights and data confidentiality. All employees who handle your data have formal employment contracts. All our employees are covenanted by contract to respect your rights and confidentiality of your data. This covenant continues to apply even after the contracts are terminated by them or us. We have a policy of pursuing action against any violation of this covenant without exception.
- DataTracks gets the inputs provided by you, converts into XBRL/ iXBRL documents at its delivery centres that are certified for ISO 9001:2015 quality standards by TUV of Germany. Our Indian delivery centre is structured to fulfil your requirements in a timely manner, under your budget, with our world class quality management in place.
- We have successfully been assessed for SSAE18.
- Easy to use portal
- Competitive prices and desired TAT
- Single point account manager
- 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, India GAAP and India AS. 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.
- First managed tagging service provider to be recognised by HMRC
- Servicing 7 of Top 10 public accounting firms in UK
- 14+ years track record and prepared over 164,000 compliance reports
- Serving over 2,000+ retail houses
