The UK standard setter may have to delay the introduction of new international reporting rules as fears mount that it uld clash with a new tax-reporting regime.

The Acunting Standards Board’s proposal to bring in new international acunting standards for mid-tier mpanies uld clash with HM Revenue & Customs’ attempts to bring in XBRL – a mputer reporting language.

In a recent discussion paper, the ASB said the new rules would me into effect on 1 January 2012.

HMRC said its new reporting language will beme mpulsory from April 2011.

There are also fears the industry will not be given enough lead time to me to grips with the new ASB standards, with some believing the board will leave only a few months for acuntants to absorb the new rules before the January,2012 deadline.

Ken Williamson, a partner with Ernst & Young, said he will be urging businesses to voice their ncerns on the matter.

‘There’s no doubt for some mpanies who are impacted by both that this will put a short-term strain on their finance teams,’ he said.

‘If the ASB were to push this back a year it would give mpanies some extra breathing space.’

Ian Mackintosh, chairman of the ASB, said the board had not nsidered the XBRL deadline when putting together the nvergence timetable, but said the board would be open to suggestions.

‘The date is flexible and if there are good reasons to delay or bring forward the date we would be happy to listen to them,’ he said.

‘If it going to cause great innvenience you have to be flexible.’

The ASB’s discussion paper, which is open for mment until 1 February 2010, follows the release of international acunting rules for mid-tier businesses released in July.

The ASB is inviting mment on the proposals, which aim at phasing out UK GAAP.