Revenue eBrief No. 255/24
14 October 2024
Submission of iXBRL Financial Statements as part of Corporation Tax Returns
Tax and Duty Manual Part 41A-03-01 has been updated as follows:
- To confirm in Paragraph 2.1 that companies liable to Corporation Tax whose affairs are managed in either Large Corporates Division (LCD) or High Wealth and Financial Services Division (HWFSD) are obliged to file their financial statements in iXBRL format.
- To reflect changes to the most recent Form CT1 in Paragraph 3 where explicit references to LCD are removed, following the creating of HWFSD. Filers should refer to Paragraph 2.1 to determine whether they are mandated to file iXBRL financial statements.
- To provide guidance in Paragraph 3.1.3 on what should be included in the mandatory DPLTurnoverRevenue and DPLGrossProfitLoss tags following the introduction of a new section of the EU IFRS taxonomy for insurance / reinsurance and life assurance entities reporting under IFRS 17 (Insurance Contracts).
- To update examples in Paragraph 1.6.1 to reflect more recent accounting standards and related taxonomies.
- To delete the first section of Paragraph 3.1 on the basis that it is no longer relevant.
- To update Small Company turnover and balance sheet thresholds under the Companies Act 2014 in Paragraph 3.1.1
- To remove references to the no longer accepted IE GAAP and IE IFRS taxonomies in Paragraph 3.1.3 and emphasise that the values for mandatory tags should appear on the face of the Detailed Profit or Loss account.
- To update Paragraph 3.1.5 to reference the withdrawal of the IE GAAP and IE IFRS taxonomies and the effect of doing so on Section 110 companies.
- To provide new guidance on the inappropriate use of taxonomies in Paragraph 4.1.2
- References to Large Cases Division are now amended to LCD and HWFSD throughout.
- Appendix referencing older iXBRL FAQs that are incorporated into this TDM is deleted as it is no longer relevant.