More than 10,000 accounts filed in XBRL to UK Companies House

25 April 2006

More than 10,000 company accounts in XBRL have been successfully filed to Companies House, the UK agency responsible for collecting and publishing company data, since XBRL filing began late last year. 

The introduction of electronic filing of accounts in XBRL has proved very successful, with submissions running at a higher rate than planned, Companies House said.

"We have been very pleased with the response so far and we are expecting to reach our 50,000 target well before the end of the year", said Jo Jones, Business Transformation Programme Manager for Companies House. "The rejection rate for XBRL accounts, based on our experience so far, has been less than one per cent.  This service is providing early adopters with a faster, more convenient way for companies to comply with their statutory obligations under the Companies Act."

The new Companies House service covers the filing of XBRL accounts for audit-exempt companies.  Companies House is planning gradually to expand the scope of the XBRL filing service to larger companies.  The UK government has announced that it plans to make XBRL mandatory for the filing of all company tax returns, including accounts, from 2010.  This is expected to be through a single gateway providing data to both Companies House and the UK Revenue.  

Submissions are validated before acceptance by DecisionSoft's True North.  "True North is now being used at the three key stages of the process - during the development of the taxonomy, as a test service for external developers, and to handle live submissions," said Philip Allen, Chairman of DecisionSoft. "We are pleased that it has passed with flying colours.”

Announced by:

Peter Calvert

XBRL International

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