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Here you can access summary of the key current tax developments in Ireland, the UK and internationally as reported by Chartered Accountants Ireland

The report of key tax developments are displayed per year, per month, by Ireland, the UK or International and by report title

Form CT1 for 2015 and a revised form for 2014 include iXBRL filing requirements

The Form CT1 for accounting periods ending in 2015 is now available. A new version of the form for accounting periods ending in 2014 was also released recently. Both forms include fields for iXBRL filing requirements.

The changes are to the “Extracts from Accounts” section of the form:

There is a notification of the requirement to file iXBRL returns with the Form CT1.

One of five category options must be selected:

  1. I am not mandated to file financial statements in iXBRL format but I elect to do so.
  2. My tax affairs are dealt with in Revenue’s Large Cases Division or I am not excluded from filing financial statements in iXBRL format under options 3, 4 or 5 below.
  3. My tax affairs are not dealt with in Revenue’s Large Cases Division and I am not mandated under phase 2 to file financial statements in iXBRL format because each of following three criteria apply to me and I am claiming an exclusion:
    1. The Balance sheet total (aggregate of assets without deduction of liabilities) of the company does not exceed €4.4 million. (See our report on the transitional arrangements implemented by Revenue in respect of this criterion below.)
    2. The amount of the turnover of the company does not exceed €8.8 million and
    3. The average number of persons employed by the company does not exceed 50.
  4. The company is inactive and there is no income or expenses on the Profit and Loss account and there is a balance sheet movement of less than €500.
  5. The company is in liquidation (not a voluntary liquidation where there are net assets for distribution).

A guide on the tagged content required in the iXBRL return is displayed. When category option 1 or 2 (per the above) is selected, a further company category must then be selected to confirm the financial statements filed in iXBRL format.

The changes are implemented on both the ROS Form CT1 for 2015 and 2014 and the paper version of these forms.

Details on the release of the Form CT1 for 2015 and the revised form for 2014 are set out in eBrief No. 37/15 which is available on here.