The Companies House XMLSoftware Filing Service offers a means of transferring company accounts data electronically, providing a more efficient and faster method of filing for both presenter and Companies House. Accounts information is electronically formatted based on the XBRL (extensible Business Reporting Language) standard - This common standard will enable all accounts data to be examined, stored, and exchanged with other systems.
It further acknowledges the receipt of the electronic data by notifying the presenter of whether the data has been accepted, rejected or is pending (i.e. awaiting action).The service also provides presenters with reasons why the company accounts data has been rejected where appropriate.
The submitted accounting details will be examined to ensure that they satisfy the required validation criteria. This will be performed by a Validator which will apply the rules defined in the referenced taxonomy, together with further content rules required to ensure the accounts satisfy the requirements of the Companies Act.
These may take the form of .raw. XBRL (which will subsequently be rendered via a Companies House stylesheet), or inline XBRL which will not require a related stylesheet for rendering.
What is XBRL?
eXtensible Business Reporting Language (XBRL) is an XML based standard to describe financial data, and facilitate the creation, distribution and re-use of business reports.
What is inline XBRL?
Inline XBRL (iXBRL) is a standard for tagging XBRL within an HTML document. This enables data to be presented in a manner dictated by the presenter, while also allowing the underlying XBRL tags to be processed automatically by consuming applications.
What is the XBRL Validator?
This is a service that checks your instance document for conformance against the Companies House Accounts Taxonomy.