Companies House puts the Cat amongst the Pigeons

Today Companies House announced their intention to mandate eFiling for 92% of their business covering 98% of entities by March 2013 (see press release here).

This will undoubtedly make a significant change to the strategy and timelines for UK corporates and accountancy practices as they consider how they respond to mandatory iXBRL filing of Accounts to HMRC.

With this announcment, there is the potentially that corporates will need to file `old` accounts once electronically before they are changing their GAAP under the APB announced consultation on migration to T1 & T1s (IFRS) and T2 & T2s (FRSME) as a replacement for the existing UK GAAP for large companies.

Does this prolong the shelf life of Conversion Tools and Outsourcing, or bring forward the adoption of specilaist Accounts Production? You couldmake an argument for either!

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This entry was posted on November 23, 2010 at 4:50 pm and is filed under UK Tax Technology. You can subscribe via RSS 2.0 feed to this post's comments.