HMRC To Consider Calls To Delay iXBRL Tax Filing Deadline

HM Revenue and Customs (HMRC) has announced it will consider calls from leadingaccountancy bodies to extend the deadline for the introduction of online tax filing.

However, it stated that companies should still presume that the switch to the compulsory use of iXBRL will take place as planned on 1 April.

Last week a number of organisations, including ICAS, the Chartered Institute of Taxation, the Association of Chartered Certified Accountants and the Institute of Chartered Accountants in England and Wales (ICAEW) called on the government to change the date of implementation.

The ICAS urged a delay of at least 18 months, to allow the iXBRL accounts language to reach the market and to give enough time for businesses to get to grips with thesoftware .

In response, a spokesman for HMRC, said: “Treasury Ministers will want to consider the representations made by the tax agent representative bodies, but the current plan to mandate the online channel with iXBRL for company tax returns remains in place.”

On the subject of software availability, he added that there were over 30 providers whose products complied with the new standard.