Revenue eBrief No. 78/15
26 August 2015
Due date for filing iXBRL Financial Statements (21 day extension), long accounting periods, draft/provisional accounts being filed, Detailed Profit & Loss filing date.
Extension to the due date for filing Financial Statements
The specified Corporation Tax (CT) return filing date is normally the 21st day of the month where a paper CT return is filed, or the 23rd day of the month where the CT return is filed [and the required payment is made] electronically through Revenue On-line Service (ROS). An additional 21 days after the return filing date (i.e. 21st or 23rd day as appropriate) is applied to the filing of iXBRL financial statements.
Long Accounting Periods
Where financial statements being filed are for a period in excess of 12 months (for example, where an accounting period is being changed, resulting in an 18 month accounting period) then the iXBRL return, reflecting financial statements for that long period, should be filed against the second CT filing period (the short period) only. It will not now be necessary to file the same iXBRL return against the two CT accounting periods where there is a change in the accounting period. The filer will need to notify the relevant Revenue District (preferably by sending details securely through Revenue’s myenquiries facility) of the long accounting period and to ensure that the iXBRL financial statements for the first/long period are noted as "not required" in accordance with this eBrief.
Circumstances where draft/provisional financial statements are required to be tagged
In certain limited circumstances, Revenue recognises that it may be necessary to file draft/provisional financial statements.Revenue is prepared to accept that if the filer is satisfied that the only issue pending is that the financial statements have not been signed-off by the director(s), then it is in order to file the draft/provisional accounts without prior permission from Revenue. In these circumstances, there is no need to re-submit the iXBRL financial statements, when they are signed-off later [unless the draft statements are different to the final ones submitted].
However, where there are any other issues giving rise to the draft/provisional accounts, then Revenue requires the filer to contact the relevant Revenue District Case Manager [using Revenue’s secure myenquiries facility] outlining the reason for the draft accounts and to seek permission to file draft financial statements in that situation. If this is agreed with the Case Manager then the final signed-off set of financial statements must also be submitted in iXBRL format.
Date of inclusion of iXBRL Detailed Trading and Profit & Loss Account (DPL)
The iXBRL Detailed Trading and Profit & Loss Account should be included in the inline view and fully tagged according to the taxonomy being used. Revenue accepts that for some filers an adjustment period is required before this can be met. In recognition of this, Revenue will accept that the tagged DPL may not be included in returns filed up to and including 30th November 2015.
However, with effect from 1st December 2015, it is a Revenue requirement that the fully tagged Detailed Trading and Profit & Loss Account is included with every iXBRL return filed.
iXBRL FAQ’s can be found on the Revenue website and will be updated in accordance with this eBrief.
See Part 41A-03-01) (PDF, 955KB) of the Income Tax, Capital Gains Tax, Corporation Tax Manual for full details on the submission of iXBRL Financial Statements with Corporation Tax Returns.