HMRC requires all UK incorporated companies to file their Accounts and Tax computations in Inline XBRL format as from 1st April 2011. Consequently, many accountants and companies now face a problem: how to turn accounts currently produced in MS Word or Excel into conformant iXBRL. Seahorse provides the solution by performing predictive, intelligent iXBRL tagging of those financial statements.
Seahorse users will therefore not have to change their existing processes. Nor will they need to acquire any knowledge of the underlying technology, as the system is accessed via a normal web browser and selects appropriate tags for each accounting element.
CoreFilingâs CEO, John Turner, commented: âWe are delighted that HMRC has now tested Seahorse and included CoreFiling in the guide. Over recent weeks we have had the opportunity to demonstrate the product to potential users during a series of country-wide road shows organised by the ICAEW, which provoked some very positive feedback.â