HM Revenue & Customs (HMRC) has alerted businesses of the need to file company tax returns and corporation tax payments (CT) electronically.
The changes require all company tax returns sent in from April 2011 to be filed online for accounting periods ending after 31 March 2010 in a specified data format known as Inline XBRL or iXBRL. CT payments must also be made electronically from April 2011. As well as limited companies, the changes impact other organisations paying corporation tax - including clubs, societies, associations, co-operatives, charities and other unincorporated bodies. Companies will be able to file online either through commercially available software or using HMRC's own CT filing software which is aimed a...
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