Companies House has announced that it will accept company accounts in a data format known as Inline XBRL (iXBRL). This is the same format in which all Company Tax Returns including the return form, company accounts and tax computations which must be submitted online to HMRC from April 2011 (for accounting periods ending after 31 March 2010).
Companies House will introduce their iXBRL service for unaudited full accounts by the summer of 2010, and then continue to develop their iXBRL capability for all the main types of accounts they receive. HMRC's new iXBRL service for CTRs will be available from November 2009.
Chartered Accountants Ireland believes that fundamental questions regarding the security of electronically transmitted information and payments must still be addressed by HMRC. HMRC Trusts has acknowledged the occurrence of serious problems with information not coming through on online Trust returns and the increased occurrence of fraudulent emails and phising scams. These issues should all be resolved before mandatory electronic filing and payments are introduced for Corporation Tax purposes.
For details of Companies House and HMRC's iXBRL initiative see here