How to submit your iXBRL documents for Revenue Ireland (ROS)

 Companies or their authorised dealers are permitted to file Financial statements in iXBRL using screens provided by Revenue Online Services (ROS). These are available throughout and can be used while submitting the CT1 through My Services or Agent Services. Revenue has a test facility to help clients to make sure that their iXBRL statements are performing adequately before filing it. A file size of max 1 MB can be uploaded. The Revenue Business Rules will not apply for test statements submitted through the test facility because of licence constraints on services offered by third party organizations. If a file more than 1 MB size is to be checked by a company or it is to be checked as per Revenue Business Rules, it is suggested to present the same through a digital certificate or through the certificate of their authorised dealer or representative. If there are any mistakes, a document highlighting this will show up and the file will not be accepted. If the companies are worried that the iXBRL statements that are to be checked are not fully filled or not fit to be presented to ROS, it should be made certain that it has a mistake so that it is not automatically filed as a submission to Revenue. If changes are to be done to iXBRL statements an amended statement can be presented. If the changes do not have any effect on the details shown in Form CT1/Form 11, they need not be presented again. Integrity Checks These checks are carried out on all original or amended Forms CT1 submitted.

• Turnover: If company turnover exceeds 8.8million pounds, CT1 has to be submitted using the iXBRL option.
• While submitting the form CT1, if Financial Statement Position or Balance Sheet Total is above 4.4 million pounds then the iXBRL alternative on the form CT1 has to be chosen.
• A further inspection is done while receiving the Form CT1 by Revenue if the company falls under Large Cases Division. If it is correct, then the firm is bound to submit iXBRL Financial statements and not submitting is likely to have an impact on tax refunds, clearances, surcharges.
• Revenue carried out earlier another scrutiny, while receiving the Form CT1, on the count of staff employed in most recent Form P35L. If this inspection showed that the count exceeded 50, the firm had to submit iXBRL Financial statements. This inspection was stopped from 1 August 2018 as the new system of computing staff as stated in Section 317 of the Companies Act 2014 started to be used. This is done by noting the staff working in a firm for each month in a financial year, adding up and subsequently dividing by the number of months in the financial year.

Firms can plead or remark that iXBRL statements are not applicable in the iXBRL section of MYEnquiries if their average staff count in the iXBRL Financial statements is less than 50 in case this inspection is still carried out. In our next blog, we continue on information with regards to validation checks, uploading multiple documents and processing financial statements stuck from progress.