Why HMRC Made the Right Decision to Choose iXBRL over XBRL

XBRL (eXtensible Business Reporting Language) is an open technology standard for business reporting. XBRL is based on XML (eXtensible Markup Language). iXBRL (Inline XBRL) is a development over XBRL, where the key enhancement lies in the rendering of tagged facts encoded in an XBRL document. XBRL and iXBRL standards exist with the same objective – seamless exchange of financial data. The main advantage of iXBRL over XBRL is that iXBRL documents can be rendered directly by browsers and printers. On the other hand, only specialized XBRL viewers can render XBRL documents.