Who can benefit from the SureFile Accounts service
All those involved in the preparation of accounts and corporation tax filings in iXBRL can benefit from the SureFile Accounts service. As explained on our What Surefile does page, Surefile Accounts:
- Allows easy testing of iXBRL accounts prior to putting them in a Corporation Tax filing.
- Provides a range of tests to help preparers identify tagging gaps and errors and achieve high-quality XBRL tagging, reducing the risk of enquiry.
- Provides a low-cost and efficient means of increasing assurance on iXBRL accounts.
- Provides impartial, objective and reliable testing.
- Has been developed by the UK's leading XBRL experts.
Those who can benefit include:
Accounting firms and agents – accounts production
Firms handling accounts production for clients can check the quality of their iXBRL accounts during and after the production process. By using SureFile Accounts, they have an independent check on quality and an easy and cost-effective means to help identify errors or weaknesses in tagging. SureFile can dramatically cut the time and effort involved in review and significantly improve assurance on quality. Its reports provide evidence of tests run and the quality of iXBRL accounts. SureFile will help reduce the chance of triggering tax risk rules and attracting unwanted tax authority attention.
iXBRL outsourcing companies
Organisations providing third party tagging services can use SureFile as a cost-effective, independent and impartial check on the quality of their work. SureFile will help them identify and correct gaps or weaknesses in tagging. Its reports will provide evidence for clients of tests run and work done. Not only will this reassure clients, but it will help avoid or resolve costly disputes if CT submissions using outsourced accounts are rejected.
Companies producing or checking their accounts in iXBRL
Large and small organisations which are producing their own accounts in iXBRL can use SureFile to check the quality of their tagged accounts during and after the production process. SureFile Accounts will help them achieve quality assurance, greatly reducing the cost and effort of review and lessening the chance of tagging errors attracting tax authority attention.
Companies which are relying on accounting firms or outsourcing companies to create their XBRL accounts can check the result independently and cost-effectively using SureFile. It is a company’s responsibility to ensure its accounts are tagged correctly and SureFile will help achieve this.
Accounting firms and agents – tax filing
Firms handling corporation tax filings who have not been responsible for accounts production can check that XBRL accounts are valid before incorporating them in a Corporation Tax submission. This gives confidence on the success of the filing and helps to narrow down the cause of any problem if a CT submission is rejected – saving huge time and effort in investigation.