In 2011, HMRC introduced ‘Inline eXtensible Business Reporting Language’ (iXBRL), a compulsory requirement that entails the filing of financial records in electronic format.
For many companies, financial statements are very often produced by a third party, and therefore the costs of outsourcing, or acquiring the specialist software for, the iXBRL conversion can be significant.
UNW can offer a managed, efficient and cost effective service for the conversion of the statutory accounts.
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Mark Hetherington, VAT partner at UNW, reflects on some of the challenges facing business owners as Making Tax Digital becomes