DataTracks was one of the first vendors to be recognized by HMRC for providing fully managed iXBRL tagging services in the United Kingdom
London (PRWEB) October 20, 2011
DataTracks UK sets up iXBRL tagging customer care facility in Perivale, Middlesex to cater to the requirements of its client base in the United Kingdom.
DataTracks is a specialist in converting financial statements into iXBRL format for filing with Her Majesty’s Revenue & Customs (HMRC). DataTracks was one of the first vendors to be recognized by HMRC for providing “fully managed tagging services” in the United Kingdom. DataTracks launched its iXBRL services to companies in the United Kingdom in April 2011 almost immediately after HMRC mandated all corporation tax payers to file the financial statements and tax computations accompanying corporation tax returns in the new iXBRL format.
The self-service model requires companies and public accounting firms to set up user accounts in DataTracks’ self-service portal, and upload the financial statements that need to be converted into iXBRL format (specifying the GAAP to be used etc). Companies and firms can download the iXBRL documents after receiving notifications that the outputs are ready for downloading. The service is predominantly used by small and midsize companies and firms of chartered accountants.
In addition to the iXBRL instance documents that need to be filed with HMRC, DataTracks provides additional documents to clarify how each data item has been tagged; and to highlight key tagging decisions for review by companies and their auditors. DataTracks will incorporate (as many times and at no extra cost) changes to tags desired by companies and their auditors until the final iXBRL instance document is filed with and accepted by HMRC.
The new customer care facility would be located in Perivale, Middlesex in the United Kingdom and would be accessible by telephone during UK business hours.
Mr T R Santhanakrishnan, CEO said “Our client base has grown far beyond what can be handled by our sales staff. The new customer care facility will ensure requests from clients for pre-engagement support and post-delivery support are met to their satisfaction”.
About DataTracks UK: DataTracks UK is owned by UK based DTracks Limited and is a subsidiary of TaurusQuest, leaders worldwide in preparation of financial statements in XBRL format for filing with regulators. TaurusQuest has prepared several thousand statements (in ASCII, HTML and the more recent XBRL format) for filing with Securities Exchange Commission in the United States in the last five years.