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The Developers’ Disclosure Guide to Ind AS 115

11/15/2018 ||By: Thenvi Subin

Ministry of Corporate Affairs (MCA) brought Ind AS 115 as part of the Companies Amendments Rules 2018. Ind AS 115 replaces Ind AS 11and 18 which are related to revenue and construction contracts. MCA has introduced Ind AS 115 with an objective to establish the principles that an entity should apply, to report useful information […]

House of Representatives Passes the GREAT Act

10/29/2018 ||By: Guru Raj Singh

In the final week of September 2018, the House of Representatives passed the Grant Reporting Efficiency and Agreements Transparency (GREAT) Act of 2018 through a voice vote. Although there is still work to be done before the GREAT Act of 2018 can be passed into law, this latest approval signals that improvements to the state […]

The Importance of Finding the Right Managed Tagging Service Provider

10/25/2018 ||By: Shabeer

Since April 2011, legislation has been in place in the UK that requires the vast majority of companies to submit their corporation tax returns and accompanying financial statements in iXBRL format to HMRC. As a result, companies – especially large companies or companies with complex financial statements – should ensure they have a managed tagging […]

Proposed Update to the IFRS Taxonomy 2018 Released by the IFRS Foundation

10/25/2018 ||By: Guru Raj Singh

On September 20 2018, the IFRS Foundation published Proposed IFRS Taxonomy 2018 Update PTU/2018/1 relating to Common Practice (IFRS 13 Fair Value Measurement), which is now open to the public for consultation. According to the IFRS Foundation, the proposed amendment includes “changes to the IFRS Taxonomy 2018”, reflecting common reporting practice for the disclosure requirements in […]

HMRC opens pilot for MTD VAT filers

10/19/2018 ||By: Shabeer

The tax authority HM Revenue & Customs (HMRC) has invited more than half a million businesses to test Making Tax Digital (MTD) for VAT moving forward to the digitisation of tax which will be effective from April 2019. HMRC has released a new statement on 16th Oct 2018 relating to MTD for VAT filers. In […]

It’s time to get ready for Making Tax Digital

10/12/2018 ||By: Shabeer

Originally announced back in 2015, Making Tax Digital aims to digitise the UK’s taxation system through the use of digital records and online filing through compatible software. With just months to go before the launch of Making Tax Digital for VAT, find out if your business is prepared. When will MTD launch? Making Tax Digital […]

Who Could Use CATO to File Their Returns with HMRC in the UK?

10/10/2018 ||By: Shabeer

In the ideal world, it wouldn’t cost businesses any money to file their annual tax returns and accounts with HMRC and Companies House, respectively. Luckily, for some companies, this dream is a reality thanks to the Company Accounts and Tax Online (CATO) service, when most of the companies choose to work with a software vendor. […]

The advantages of XBRL

10/05/2018 ||By: Shabeer

XBRL, also known as eXtensible Business Reporting Language, is an open standard reporting language that was introduced with the intention of improving the quality of financial data reporting. It is a form of extensible markup language (XML) that is used across the globe today, and millions of XBRL documents are created each year. As a […]

The Benefits of Uniform Entity Identification

10/01/2018 ||By: Guru Raj Singh

In September 2018, a joint report was issued by the Global Legal Entity Identifier Foundation (GLEIF) and the Data Foundation. Among other things, the report considered how Legal Entity Identifier (LEI) adoption across US federal agencies “could streamline entity identification and produce benefits within and beyond financial markets.” One of the key issues mentioned in […]

Making Tax Digital and the Agent Services Account

09/28/2018 ||By: Shabeer

There has been a lot of focus on how individuals and businesses can get ready for Making Tax Digital, but how do agents get involved in the process? What is an agent services account? If tax agents wish to access certain HMRC online services on behalf of their clients, such as the Making Tax Digital […]

Specialists in XBRL and regulatory reports

DataTracks prepares more than 14,000 XBRL statements annually for filing with regulators such as SEC in the United States, HMRC in the United Kingdom, Revenue in Ireland, Eurofiling compliance reports in Europe, ACRA in Singapore and MCA in India. Honed by our experience of preparing more than 172,000 compliance reports, our solutions and services are designed to assure quality, reliability and ease of use.


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