The annual accounts and tax computation attached to a corporation tax return must in iXBRL format.
An iXBRL file has the same format as a page on a web site and the accounts or computation it contains can be viewed in any web browser simply by opening the file. In addition, much of the data is specially tagged so that it can also be machine read.
The accounts and computations in the VT workbooks in VT Final Accounts are pre-tagged and iXBRL files can be generated from them at the touch of a button.
To generate an iXBRL file, select VT XBRL>Generate iXBRL from the Add-ins menu in Excel.
The Generate iXBRL file dialog in VT Final Accounts
VT Final Accounts can also be used to self-tag any set of accounts or computation in any Excel workbook. For most small companies, custom accounts and computations can be tagged very quickly using a special dialog laid out in the form of a set of accounts/computation. No technical knowledge is required.
The iXBRL files generated by VT can be attached to third party tax packages.
iXBRL accounts can also be submitted to Companies House using VT Filer.
For more guidance on iXBRL, please refer to the iXBRL chapter in the VT Final Accounts user guide VT Fact Viewer enables the tagged data in an iXBRL file to be displayed and reviewed.
