CIOT laments govt decision to press ahead with iXBRL plans

Date: 10th February 2011

The Chartered Institute of Taxation (CIOT) has voiced its disappointment about the government's decision to press ahead with plans to introduce mandatory online tax return filing.

It has been announced by the coalition that it is to introduce the obligatory use of the iXBRL computer language for all tax returns to HM Revenue & Customs (HMRC).

The move comes despite the CIOT and a number of other tax bodies calling on the government to postpone the plans.

Anthony Thomas, deputy president of the CIOT, commented: "This decision will come as a blow to some businesses and members of the professional bodies who are struggling with implementation due to the insufficiency of time between software arriving and the legislation commencing on April 1st 2011.

"However I welcome the minister's recognition that there will be a soft landing for the changes, with HMRC 'sympathetic to any difficulties caused by lack of familiarity with new software or delays in receiving software'."

Posted by Jacob Williams