Briefing

iXBRL

Sara McAllister Sara McAllister

Grant Thornton offers a timely, cost effective, managed iXBRL tagging service for company financial statements and tax returns. If Revenue or HMRC iXBRL tagging requirements apply to your company then our service could be the solution for you.

Who does iXBRL apply to?

1. Ireland

Filing of financial statements in iXBRL format is mandatory for all corporation tax payers with the exception of companies who meet all three of the following criteria:

  • balance sheet total ≤ €4.4 million;
  • annual turnover ≤ €8.8 million annually; and
  • average number of employees ≤ 50.

2. UK

All companies required to file a corporation tax return must file the tax return itself, the supporting tax computation and related statutory financial statements electronically using iXBRL.

How does our iXBRL tagging service work?

The scope, cost and timeline of our service will be agreed at the outset and outlined in a signed engagement letter. The financial statements will be tagged by our specialist iXBRL team. An initial and final independent quality review will be completed by our management team prior to delivering the tagged documents.

How much does iXBRL tagging cost?

The cost of the iXBRL tagging service is dependent upon the volume and size of financial statements to be tagged. Grant Thornton offer volume discounts for tagging multiple sets of company financial statements.