Bill Dodwell reviews the top five taxation developments in 2011 affecting corporate tax
Five key developments in 2011 for corporate tax were as follows:
2011 saw the introduction of iXBRL tagged corporation tax returns computations and financial accounts. The government Gateway is hopefully ready for the deluge of electronic data expected by 31 December.
Why it matters: iXBRL will lead to a change in the way in which HMRC approaches enquiries. Instead of individual Inspectors choosing what to look at the central system will recommend the enquiries needed. It will mean that HMRC will have far more information than it has ever had...
