Statutory Accounts Tagging Software

 

   

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Creating an iXBRL file from your statutory accounts could not be simpler.

Inline eXtensible Business Reporting Language (iXBRL) allows organisations to automate the submission of financial statements to HMRC. iXBRL was adopted by HMRC to implement high levels of automation for gathering and processing financial data. All statutory accounts must be tagged in accordance with the relevant taxonomy and filed electronically to HMRC. The Alphatag solution is fully compliant with HMRC's iXBRL requirements (HMRC Recognised).

The Alphatag software application incorporates the required tools and functions to fully manage the process of tagging statutory account documents prepared in either Microsoft Word or Microsoft Excel.

Key Application Features

Core Application

This application is designed to provide tax and finance departments with complete control over the preparation, management and creation of iXBRL statutory account documents. The simplicity of our application, combined with the user-friendly interface allows users to be up and running quickly and efficiently.

Automated Tagging

A fully integrated intelligent Data Dictionary will bring high levels of control and reduce risk in the tagging of numerical fields within the statutory accounts. The system will incorporate automated tagging for both UK GAAP and IFRS taxonomies.

The software learns from previous tag allocations and applies this knowledge into an internal Data Dictionary for future tagging in later periods or other company accounts.

Implementation

The software platform is engineered to be compatible with today’s modern IT environment. With a simple installation process for both local and network environments, the application can be up and running in minutes.

e-Filing to HMRC

In accordance with HMRC guidelines, all tagged accounts must be e-Filed using a recognised corporation tax software application. Alphatax, TCSL’s flagship product and one of the UK’s leading corporation tax software solutions, is the preferred choice for e-Filing to HMRC.

Summary

Our solution will streamline the process of creating an iXBRL file in a seamless and cost-effective way. You will be partnering with an established supplier who has a reputation for software and support which exceeds industry standards.

For more information or to book a presentation, please contact us and ask to speak to a member of our new business team.