End of the HMRC Transitional Period - A Reminder

The Transitional Period that HMRC announced for the first two years of mandatory online filing in iXBRL for CT Returns expires on 1st April 2013.

During this Transitional Period (sometimes known as the "soft landing" period) HMRC promised to be sympathetic to the mistakes made by filers that were seen to be making a genuine attempt to comply with the online filing requirements of at least tagging to the level of the Minimum Tagging List (MTL). And whilst the MTL remains the minimum requirement for the time being (see our
story of 31/5/2012) HMRC's attitude to mistakes and non-compliance is expected to harden considerably from April. The transition to online filing is most definitely coming to an end.

One aspect of this hardening of attitude is the deployment of internal risk rules to analyse the content of Accounts (and Computations) with a view to flagging up to CT Inspectors the most likely cases for inquiry. It is therefore more vital than ever that submitted Accounts are of sufficient quality and coverage to avoid triggering these rules inadvertently in the first place. Staying safely below the parapet is easily achieved with a good QA tool :-)