Released 08 October 2021
The 2022 update of the Financial Reporting Council’s (FRC) Taxonomies Suite has been issued.
The key changes include:
•the Streamlined Energy and Carbon Reporting (SECR) taxonomy has been incorporated into the main body of the FRC suite and has had its Task Force on Climate-related Financial Disclosures (TCFD) disclosures augmented;
•the UK single electronic format (UKSEF) imports the most up-to-date version of the European single electronic format (ESEF) and can be used with tags from the rest of the FRC taxonomies suite for UK reporting purposes to Companies House and the Financial Conduct Authority (FCA); and
•the FRC taxonomies now supports a Welsh label linkbase, to enable those that wish to browse the taxonomies and/or report in the Welsh language to be able to do so.
The 2022 suite represents the most up to date version of the FRC Taxonomies and as such should be used to comply with HMRC requirements to fully tag. The suite has been designed with full tagging in mind.
More information can be found at: https://www.frc.org.uk/news/october-2021/2022-frc-taxonomies-suite.