Ez-XBRL Solutions Officially Regnized By UK HMRC For Inline XBRL (iXBRL) Tax Filings To Meet Regulatory Mandate
WASHINGTON, DC October 20, 2010 - Ez-XBRL Solutions, LLC, a full service, global XBRL data nversion and analytics solutions provider, announced today that Her Majestys Revenue and Customs (HMRC), the tax authority in the United Kingdom, has officially regnized the mpanys Ez-iXBRL as an approved software solution to prepare inline XBRL (iXBRL) mpany tax filings. The mpanys managed tagging services were also approved by UK HMRC. Ez-XBRL solutions were approved after HMRC nducted rigorous testing on both the software and iXBRL output files. UK HMRC requires all UK-based mpanies, including listed mpanies, SMEs and foreign subsidiaries operating in the UK, to file their pany Tax Returns (including annual acunts and mputations) in iXBRL format with the tax authority. The requirements to file in iXBRL are effective for returns filed after April 1, 2011 for acunting periods ended on or after April 1, 2010. panies must also make rporation tax payments electronically from April 1, 2011 onward.
Ez-XBRL Solutions is proud to be among a select few solution providers to be regnized by UK HMRC to help UK mpanies meet the iXBRL regulatory filing requirements, said Aneet Kumar, President of Ez-XBRL Solutions, LLC. Ez-iXBRL is an integrated XBRL data nversion platform in which mpanies can map, tag, validate and output iXBRL files that are HMRC-mpliant documents easily and seamlessly. We rce the burden on mpanies to output their iXBRL files through an intuitive, easy-to-use interface that also allows them to submit their electronic iXBRL files and CT-600 forms directly to HMRC through Ez-iXBRL. Our dedicated quality ntrol and service support teams help mpanies through the filing process were there to hold their hands through a sometimes overwhelming series of steps.
panies House jointly announced with HMRC in September 2009 that it would adopt the same iXBRL format for online submission of acunts. This means that the statutory acunts that must be prepared for mpany shareholders and that are also sent to HMRC as part of the pany Tax Return will also be aepted by panies House online. Although panies House has not yet mandated iXBRL format for such filings, it is currently aepting them on a voluntary basis.
Ez-iXBRL is built on the same well-known XBRL standard as our flagship product, Ez-XBRL, added Kumar. This means that within the same Ez-XBRL platform, a user can uniquely output XBRL-tagged files to meet any of the current XBRL needs around the world, whether for the HMRC requirement or panies House needs in the UK, the SEC requirements for US GAAP financials and detailed footnotes or mutual fund risk/return filings in the US, and others. Our principals are experts in parsing both structured and unstructured data into XML and XBRL formats, so it was a logical step for us to build a platform that gives our clients maximum flexibility in using one tool to meet multiple XBRL filing needs no matter which XBRL taxonomy was required.
Ez-iXBRL supports the mplete set of iXBRL requirements as mandated by HMRC. It supports UK-GAAP, UK-IFRS and putations taxonomies.
Our user-friendly method for mapping and tagging documents in multiple formats such as PDF, Word, Excel and HTML generates final instance documents that mply with the iXBRL specification as well with HMRCs style guide and ending standards, added Kumar.
About Ez-XBRL Solutions, LLC
Ez-XBRL Solutions is a global provider of financial reporting and analysis, regulatory mpliance and rporate ernance solutions. Among its offerings are integrated XBRL and iXBRL data nversion and analytics solutions as well as XML solutions. The mpany is a specialist in nverting unstructured data into structured, standards-based data sets. Ez-iXBRL is officially regnized by the UK HMRC tax authority as a software solution for iXBRL tax filings.
