HMRC has decided to carry on with its plans to force companies to file tax returns online using iXBRL, despite the fact that the professional accounting bodies have called for a delay.
In a letter to Treasury, David Gauke, the institutes (CIoT, ACCA, ICAS, ATT, ICAEW and the AAT) have asked for a delay as they fear that the new technology is not ready.
Sage have stated that its accounts production programs will not be ready in time.
However, HMRC insist that as from 1 April 2011 iXBRL must be used.
ICAS red flagged this issue in June 2009. However, I am surprised that it has taken the institutes so long to get their act together to write a joint letter about the problem only now (given that implementation is now only 2 months away).
Notwithstanding HMRC's stance, rumour has it that the Treasury will make a decision today as to whether this will really go ahaead.
Tax does have to be taxing.
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