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HMRC have made some transitional arrangements for smaller charities. The format in which Charity Accounts are required to be submitted, depends on the size of the charity.
If a Charity has to prepare accounts under the Companies Act 2006 or Friendly and Industrial and Provident Societies Act 1968, users are required to file accounts and computations in iXBRL format.
However, HMRC recognises that the accounting principles by which smaller charities prepare accounts mean that the accounts template, included in the free software provided by HMRC, may not be suitable. Until HMRC provides free software that is suitable for smaller charities, HMRC will continue to accept accounts from smaller charities in PDF format. Computations must be filed in iXBRL format.
A smaller charity, for the purposes of this arrangement is one where, together with any wholly owned subsidiaries (companies owned by the charity), the combined income does not exceed £6.5 million for the accounting period. Charities with a combined income above £6.5 million will need to file their Company Tax Return, Accounts and Computations in iXBRL format.
Customer Support can only give can only give guidance on the process to tag your iXBRL accounts. It is the user’s responsibility to select the appropriate tags from the taxonomy.
Click the links below to jump to a particular section:
Step 1 – Identifying Account/Group descriptions that have been amended from the default settings
Step 2 – Tagging text within the data screens
Step 3 - Generating the iXBRL Accounts for submission to HMRC
Step 4 – Tagging report items within the Tag Editor
Step 5 – Reviewing the tagged iXBRL Report
Step 6 – Finalising the iXBRL Report
Step 7 – Creating a submission for HMRC
The Specific Description Report Options screen displays.
Select the relevant options for each section.
Click OK.
This report enables users to see which account and group descriptions have been amended in order to change/apply the relevant tag. For example, if a posting has been made to the fixed asset motor vehicles account code but the description has been amended to read ‘Boats’, the tag from motor vehicles may need to be amended to a more suitable tag when sending the accounts to HMRC.
Select Edit | Data Screens
Select the relevant section of the reports to tag from the data screen branches. For example, select Notes to Financial Statements | Other Disclosures | Related Party Disclosures
If no text has been highlighted, selecting the iXBRL Tagging option, the following warning displays:
The iXBRL Tagging screen displays:
The Taxonomy screen displays:
Select the relevant Context Reference.
If the selected Concept label requires a Tuple Group, the following displays:
If the selected Concept label does not require Tuple Group, continue to step 12.
The following screen displays:
A new Tuple Group will be created and displayed within the Tuple Group field as shown below:
If other disclosures are required for tagging, select the appropriate data screen and complete.
Click Save to save the changes to the data screens.
Select Exit Screens.
The Financial Statements – iXBRL Reports screen displays.
(To display a list of reports available, click on the icon next to the Report/Document field).
Confirm the correct posting entries have been selected by default or make your selection in the Current and Last field.
Click OK to generate the accounts to the Tag Editor.
If exceptions exist within the report for specific details, the Report Information screen appears as follows:
If warnings exist within the report for specific items, the Report Information screen displays.
The Tag Editor screen displays:
The Report – CHA tab displays
the report that has been generated with tags applied and/or available
to be tagged.
The Exception Report tab displays exceptions within the report that
need to be modified before the iXBRL report can be finalised. See
example below:
The Warning Report tab gives details of report items which have not been pre-tagged and may require manual tagging if there is an appropriate concept in the minimum tagging list. See example below:
The iXBRL Preview tab displays the full report in a readable format that will be sent to HMRC - See example below:
Things to consider when tagging
your iXBRL Accounts:|
Concept labels for the totals cannot be amended (for example, total
incoming resources, total resources expended).
Pencil icon next to the Note (on left) indicates that the concept label
of the notes can be amended.
If required, reports can be printed from the iXBRL preview tab, not
from the Reports tab.
Within the Tag Editor screen, select the Report – CHA tab.
From the toolbar, click on the Show Taggable Items icon.
Select Show Taggable Item will show items are not pre-tagged by PTP in BLUE or hide them if there are no longer required.
The Taxonomy screen displays:
The taxonomy is displayed in a presentation view, the tree structure should relate to the report structure.
The Mapping Control toolbar also consists of the Apply default, Clear mapping, Show/Hide notes and Next/Back icons:
Apply default -this option allows users to revert the tagged item back to the PTP default; this option only applies to pre tagged items of the report that have been amended
Clear mapping – this option clears mapped tags that have been applied
Show/Hide notes – this option allows users to show or hide notes
Next/Back - This option allows users to select the next or previous item to be tagged.
Items within the taxonomy are displayed in BOLD if they are part of the HMRC minimum tagging list and users are required to consider these items when tagging the report.
When selecting a concept label within the Taxonomy, users should be aware that if the tag icon (on the left hand side of the chosen concept label) is shaded in grey , then it is available to be selected. However if icon is shaded in yellow , the concept label is already used in the report; therefore an alternative concept label must be selected.
The Field linked on Concept screen appears as follows:
The Concept label selected may link fields in Tag Editor i.e. Current year figure to Last year, therefore if Yes is selected, last year figure will be automatically tagged with concept label selected for current year. If No is selected, users are advised to manually tag the last year figure.
When iXBRL accounts are first
generated a number of report items will be tagged automatically by
default. The remaining report items should be reviewed and tagged
accordingly.
The report will display the tagged items in GREEN. If any of the report
items which have default tags require amendments, the items can be
selected by left-mouse clicking on the highlighted box or by double-clicking
into the box.
When items are selected, if links exist to other report items, the
report item will be highlighted in a different colour i.e. BROWN indicating
the items are auto linked. The link is normally between the current
and last year figures.
The example client below shows where report
items have been automatically tagged by the software:
Selecting ‘Show Tag Report’ will show the Tag Report as a new tab (window) within the main screen. The Tag Report displays an overview of iXBRL tags and associated attributes that will be contained within the iXBRL report created for HMRC. The report generated provides detailed information regarding all of the tags that have been applied for the client within the Tag Editor screen. This report is useful for audit purposes and can be exported as a CSV by clicking on the icon.
The Tag Report tab is generated as follows:
If freeform text exists within the report, they must be reviewed and manually tagged with an appropriate concept label(s). The Warning Report will highlight these items if they are present within the report.
Follow Step 3 to generate the Tag Editor screen.
Select the Validate icon.
Selecting ‘Validate’ will perform
validation on the tags applied to the report and a report will be
generated which shows the Tag Errors that needs to be reviewed prior
to finalising the iXBRL report.
The Tag Errors tab will contain a grid view of all the report items
where problems have been found. Each record will provide details on
the Concept, Value and Attributes selected against the report item
when mapped within the Mapping Control.
Selecting an item in the grid will display more detail in the bottom
half of the window which should give an indication as to the action
required to clear the error. Once selected, the Mapping Control will
also display the details for that report item. The mapping can be
updated/cleared here if required. Double clicking or selecting View
Report Item will jump to the report item within the Report tab, where
the details can also be corrected as applicable.
Upon successful validation, the following message displays.
Click OK.
Select iXBRL Finalise.
The Accounts Finalised screen displays:
The following screen displays.
Save file in IRIS – This allows the iXBRL Account fie to be automatically attached when generating the Electronic CT600 in PTPBusiness Tax.
Save externally – This allows the iXBRL accounts file to be saved in a specific folder
iXBRL
Inline eXtensible Business Reporting Language - electronic communication language for business and financial data, which can be read by both computers and humans. It is a bridge between HTML (hypertext mark-up language – normally used on websites) and XBRL to enable XBRL documents to be read by humans, preserving the branding and formatting of the data sent. All reports in the UK must be filed in Inline XBRL format.
An iXBRL version of the financial report which contains a set of values which can be understood by reference to the taxonomies on which the instance is based. An instance is created by matching business data against taxonomy. Every instance must reference the taxonomies on which it is based, so that its contents can be understood. It is a technical file intended for consumption by appropriate software, not easily read by humans.
The dictionaries used in XBRL to define specific tags for individual items of data, e.g. “net profit”. Taxonomies are presented in the same format as the financial reports they typically represent. The full list of Taxonomies can be found in the Mapping Tool, in both the Mapping Control tab for selection and the Taxonomy Browser for reference. The Taxonomy is displayed using the XBRL. org‟s specified presentation view.
A view of the taxonomies in a user friendly format with user friendly labels to represent the concepts contained within the taxonomy.
The taxonomy browser allows a user to see the taxonomy presentation view as provided by XBRL UK.
This is a human-readable tag which uniquely identifies each data item within the taxonomy. These are the individual selectable tags that are contained within the Taxonomy list within the Tag Editor Mapping Control tab. These labels are unique to the data type selected when the specified Context and dimension are applied to it.
This is the computer readable version of the taxonomy concept Label. The concept is used and within the instance document as a unique reference for the tagged data in the reports. This concept Id can be seen for reference against each of the Concept Labels within the taxonomy browser.
This is the selected items data format, such as; monetary, numeric, text string etc. Depending on the data type of the selected value for tagging, will then depict which concept can be selected for tagging from within the Taxonomy list, as these are date type dependant.
All tags have a period type which identifies whether they are measured as an instant i.e. at a particular point in time, or over duration, i.e. for a period. The taxonomy defines if a Concept Label has Context Reference defined as an instant or a duration, PTP will provide applicable options to select from based on this taxonomy setting, i.e. for an instant, options for c/fwd current year, b/fwd current year, c/fwd last year or b/fwd last year for a duration Current year or Last Year.
Taxonomy dimensions represent the different forms in which financial data may be reported. Concept Labels may only exist once in the taxonomy, but dimensions can be used to tag the different forms in which it is reported.
Dimensions can be used to tag a turnover figure for a specific geographic market, or tag a turnover figure for a continuing operation.
Dimensions can be used to tag individual addition figures for each type of assets and to tag additions relating to owned assets or leased assets.
For the majority of concept labels there are default dimensions, these default dimension will be pre-defined. Where this is not the case the user will be automatically directed to specify the relevant dimension to apply to the selected data concept. If dimensions are set to a default they can be selected to the appropriate dimension for the report item being tagged.
Additional information associated with the data which is being tagged required to create a valid iXBRL instance.
The degree to which numbers have been rounded, this will vary automatically depending on the report run i.e. round pounds/round thousands. Manually tagged items in the data screens must have this attribute set by the user.
Represents the unit of measure, and is required for numeric concepts i.e. monetary elements would have a monetary unit type, GBP. These values will be automatically populated depending on the posting entry currency. Users can select an alternative currency if appropriate for manually tagged items in the data screens.