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The latest Guidance on iXBRL filing

With the iXBRL regime now in place, there is an increasing amount of information available to those undertaking the tagging of statutory accounts and tax returns. We believe this should be considered when preparing filings under the HMRC’s iXBRL e-filing mandate, alongside the current guidance. The latest two pieces of guidance, the ‘Detailed Tagging Information’ and the ‘Global Filing Manual’, together provide an additional 176 rules and principles to supplement the existing style guides, requirements and technical guides available on the HMRC’s website.

Detailed Tagging Information

On 1 May 2011 XBRL UK, released “supplementary” guidance entitled XBRL UK Detailed Tagging Information (DTI). The document further explains the use of particular tags and features in the taxonomies. It aims to answer frequently asked questions raised by users. It also includes additional information for developers on some technical features of the UK taxonomies.

Worth noting:

  • The DTI document is 41 pages long and contains 150 rules and principles to supplement the 64 existing ones contained in the 39 page Preparers and Developers Guide (published March 2010) and the 25 rules in the 20 page HMRC CT Inline XBRL Style Guide (last updated in February 2011).
  • The authors have stated that “[t]he document gives some idea of the detailed issues which may arise in preparing reports in XBRL. Clearly, however, such a document can only cover common themes – it cannot deal with all the myriad tagging decisions which may be faced by those preparing different types of accounts.”

Global Filing Manual

The IFRS Foundation published the latest draft of the Global Filing Manual (GFM), on 19 April 2011, which now incorporates guidance on the use of Inline XBRL for the first time. This guidance has been taken from a number of sources, including the HMRC Inline XBRL Style Guide. Relevant sections are the additional Inline XBRL guidance (sections 1.10 and 2.9).

Worth noting:

  • The GFM contains 81 pages specifying 213 rules for preparing XBRL filings, of which 26 specifically relate to the new “inline” component of the XBRL format.
  • The GFM is an attempt to encourage good practice and consistency of approach in the creation of XBRL documents throughout the world.
  • It is HMRC’s intention eventually to reference the GFM as part of its CT Technical Pack, but currently it is being provided ” for information only” - there is no stated intention “currently to enforce any of its rules or guidance”. Unusually, HMRC has inputted into this global best practices filing manual directly at the same time as the release in the UK of DTI.
  • The application of the GFM is currently unclear – but is likely to become increasingly important in light of its publishers, as the UK considers a shift to IFRS and Companies House considers mandating iXBRL for filings.

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