FRC publishes 2021 suite of taxonomies
Released 29 September 2020
The Financial Reporting Council (FRC) has issued the 2021 suite of FRC Taxonomies.
In addition to updates of all the existing taxonomies, a new taxonomy is now available called the UKSEF, which can be used for UK reporting purposes to Companies House and HMRC. It is a UK version of the ESEF Taxonomy and overseas entities wishing to file with Companies House need to use the UKSEF to file, since it contains the extra tags needed to file in the UK. From April 2021 HMRC will accept submissions where group accounting entries are included in the accounts submission and have been tagged with the ESEF taxonomy. The suite is updated for all taxonomies except for the Irish Extensions which remain as per the 2019 version.
Further information can be found at 2021 suite of FRC Taxonomies.