FSA bucks trend and rejects XBRL

Abstract

HM Revenue & Customs and Companies House are battling to encourage business take-up of XBRL, but the Financial Services Authority has steered clear of the format. The FSA said it was pointless rushing into XBLR filing, but its use would not be ruled out forever. HMRC can now take corporation tax filings using the format and is looking into creating a less complex scheme for SMEs.