Thursday, March 17, 2011

About online filing for Corporation Tax

From 1 April 2011, all Company Tax Returns for periods ending after 31 March 2010 must be filed online. For the vast majority of Corporation Tax customers, this means submitting the computations and accounts that are part of the return using the Inline eXtensible Business Reporting Language (iXBRL).format, which ‘tags’ information in the return. Many small companies will be able to use the free software available on the HM Revenue & Customs (HMRC) website to meet this requirement. Otherwise, companies will need to use commercial software products to file.

This guide explains who is affected and when, what action you should take now, and what you can expect.

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