iXBRL | ARKK

HMRC and Irish Revenue require businesses to digitally tag their financial statements using Inline Extensible Business Reporting Language (iXBRL), enabling the data within them to be both human and machine readable. The digitally tagged financial statements must then be filed with a business' annual tax return. The tagging doesn’t affect the information you’re required to submit, but it does mean machine readable tags must be added to your financial statements for the annual submission to HMRC or Irish Revenue.

Does it affect me?

If your business is required to submit a corporation tax return in the UK or Ireland, you will be required to digitally tag you financial statements using iXBRL. HMRC and Irish Revenue provide the taxonomies required for tagging, these are updated periodically.

What do I need to do?

Typically, your iXBRL compliant financial statement must be submitted within 12 months of your year end with your corporation tax return. However, this is expected to change in the UK with the upcoming mandate from Companies House giving you nine instead of twelve months to file.

What's the deadline?

If your business needs to file a corporation tax return in the UK or the Republic of Ireland, in most cases you’re required to submit your iXBRL tagged financial statements at the time of submitting your corporation tax return. The upcoming Companies House mandate in the UK, which will make the submission of digitally tagged financial statements compulsory, means that more companies will need to digitally tag their financial statements.

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Need a quick turnaround?

Got a deadline looming? We offer tagging in as little as 1 day, to ensure you submit on time.

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HMRC recognised

Our software is approved by HMRC, so you can feel confident that your reports are being tagged by the most resilient and up-to-date solutions.

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UK-based service

Enjoy the reassurance you get with a local team who understand your business and its tagging requirements. We make sure to provide the help you need, when you need it.

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Secure cloud-based portal

Our ISO 27001 certified portal gives you access to a single and secure destination for uploading, tracking, and accessing your files.

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Experienced pros

Our experts apply over 2 million tags to over 6,000 documents annually, across multiple reporting mandates. They deliver on time, every time, so you can review your reports before you submit.

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Award winning support

Our experts are here to support you with best practice guidance. We work with your team and auditors to ensure all of your requirements are met.

The information that came back from ARKK was so clear and transparent.

Kreeson Thatiha, Head of Finance and Client Money, eToro

I was continually reassured of ARKK's technology and their commitment to customer service.

Darryl Alford, Finance Manager, DPD

ARKK were prepared to be more flexible with how we worked and how we were set up.

Alistair McClelland, Head of Tax, The University of Edinburgh

Simply outstanding service and a real pleasure to work with.

Chris Parsons, Production Director, Radley Yeldar

ARKK are extremely responsive and supportive partners.

Janette Moriarty, Group Financial Reporting Director, Kerry Group

ARKK are invaluable to us… I wouldn't consider another project without them.

Valentin Ramousse, Head of International Business Development & Partner, Emperor Works

The speed and accuracy of implementation was incredible.

Akash Kalaiya, EMEA Tax Manager, Universal Weather and Aviation

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iXBRL: What you need to know

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