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iXBRL and your business

iXBRL and your business

Tagging financial documents for Irish Revenue & HMRC compliance

Tagging financial documents for Irish Revenue & HMRC compliance

What is iXBRL and accounts tagging?

iXBRL is inline eXtensible Business Reporting Language

This is a language that allows the presentation of financial information in a computer-readable format. This is achieved by tagging each piece of financial information with a label that identifies it in terms of standard accounting or tax concepts.

 

How KPMG can help

KPMG offers its iXBRL conversion services to Republic of Ireland and United Kingdom tax resident companies. Our team of experts have developed a suite of iXBRL solutions and services to help businesses to meet their compliance requirements in an easy and cost-effective manner.

Our iXBRL accounts team, with a local unit based in Belfast, tags thousands of company accounts annually using its XME software for submission to HM Revenue and Customs (HMRC) in the UK and Revenue in Ireland.

 

iXBRL at a glance

  • iXBRL Conversion Service
    • KPMG can tag and convert accounts from MS Word or Excel into an iXBRL instance document
    • Includes a full review of tagging
    • Protects your accounts preparers from disruption
    • Gives the option to bring the work in-house at any time by licensing KPMG's iXBRL Conversion Technology
    • Cost-effective and reduces pressure on in-house compliance teams 
  • iXBRL Conversion Technology
    • Takes control of the conversion process by licensing KPMG's XME application
    • Saves time by tagging a small number of proformas, which can be used for multiple entities' templates and for future years
    • Roll-forward of accounts to subsequent reporting periods whilst maintaining tags, ready for editing
    • Easy to use, quick to integrate and cost effective in-house option

 

Further information

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