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The future of financial reporting in the UK - an update.
If you did not file your corporate tax return by 31 March 2011, you are now part of the new iXBRL regime. From 1 April 2011, financial statements accompanying tax returns to HMRC must be in a specific electronic format (iXBRL). The company tax return must also be delivered electronically. This briefing paper summarises the main characteristics of the new regime, the changes that need to be made when producing financial statements and how Mazars can help.
The Accounting Standards Board issued a consultation paper towards the close of 2009 entitled The future of UK GAAP, receiving over 150 comment letters. The Financial Reporting Exposure Draft - initially expected during the summer of 2010 - is now due to be published in the final quarter of 2010. The eventual conclusions may have far reaching effects for the insurance community. This briefing provides an update on progress so far.
All companies will be required to file their company tax returns online using iXBRL from 1 April 2011. As a result, insurance entities will have to revisit the ways in which their financial statements are produced and how they are linked to the online company tax return. Our briefing paper discusses the issues now facing the insurance community - are you ready for iXBRL?
All companies will be required to file their company tax returns online using iXBRL from 1 April 2011. As a result, Lloyd's entities will have to revisit the ways in which their financial statements are produced and how they are linked to the online company tax return. Our briefing paper discusses the issues now facing the Lloyd's community - are you ready for iXBRL?
All companies will be required to file their company tax returns online using iXBRL from 1 April 2011. As a result, brokers will have to revisit the ways in which their financial statements are produced and how they are linked to the online company tax return. Our briefing paper discusses the issues now facing the broker community - are you ready for iXBRL?