HMRC update guidance on taxonomies accepted by HMRC
Released 9 October 2018
HMRC have updated their guidance on taxonomies accepted by HMRC to provide links to the latest 'detailed profit and loss section taxonomy'.
All company tax returns must be submitted online using the Inline eXtensible Business Reporting Language (Inline XBRL, also known as iXBRL) data standard for accounts and computations. The accounts and computations must be fully tagged insofar as the taxonomy used contains appropriate XBRL tags. Taxonomies are updated periodically to reflect changes to legislation, accounting standards and so on. HMRC’s guidance Taxonomies accepted by HMRC sets out when a particular version of a taxonomy should be used. The guidance has been updated at section 1.4 Detailed Profit and Loss section taxonomy.
View the updated guidance Taxonomies accepted by HMRC.