From April 2011, under Government proposals, all companies, clubs, societies, associations and other unincorporated bodies will have to:

• File company tax returns online for all returns delivered after 31 March 2011 for accounting periods ending after 31 March 2010, using a specified XBRL data standard for accounts and computations; and
• Pay Corporation Tax (CT) liabilities electronically from April 2011. HMRC will not accept a company tax return filed on paper when it should have been filed online, and they will not accept any returns filed online with accounts and computations sent as a PDF attachment.

Those currently filing Corporation Tax returns using paper (or using PDF attachments) will face the greatest change and need to consider selecting an iXBRL compliant agent to file returns on their behalf.

Hooper & Co are a fully iXBRL compliant firm and would be happy to discuss the implications for your business.