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September 16, 2010

UK becoming iXBRL ready

UK accountancy practices are successfully adopting iXBRL as they edge closer to the April 2011 implementation deadline, according to software provider IRIS.

Since the start of this financial year, 51% of the 120,000 electronic returns submitted to the UK Treasury (HMRC) using IRIS software were transmitted as iXBRL documents.

The electronic returns submitted using IRIS software made up 49% of the total submissions filed with HMRC.

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