iXBRL affecting small businesses

Companies House were due to enforce electronic filing of company accounts, following the steps of HMRC, by March 2013. However, due to the government’s decision not to add new regulations that affect small businesses, this requirement will be delayed and reconsidered in 2014. Companies House say they will ‘work with the software industry to build on the work already done to meet the requirements of HMRC, and in doing so make any change as simple as possible for companies and their agents.’ This will ease the burden for SMEs not already caught by the HMRC requirement (such as LLPs and most charities).