UKSEF, 2021 Taxonomies, Revised Accounts UPDATE

We have previously advised that the XBRL FRC Taxonomies will be updated in 2021 and that we would be making these new taxonomies available for submission during 2021.

The 2021 taxonomy suite will introduce the new UK Single Electronic Format (UKSEF) taxonomy with the capability to use extensions. This can be used by listed companies to file their consolidated accounts.

We can also confirm that Revised Accounts can now be filed digitally (via software) using the 2021 taxonomy.

Full details of the above enhancements appear in v4.29 of our Technical Specification (Revised Accounts filings details appear on page 61).

This is a reminder that these changes will be in place from Thursday 1 April 2021.

As previously advised, Companies House and HMRC will be limiting submissions to the last three available taxonomies (2021,2019,2018) and rejecting submissions using older versions (such as 2014) from July 2021.

New testing service
Companies House has provided access to a testing service to allow you to make sure that your own programmes are working correctly ahead of the implementation date. This testing service enables you to check that accounts iXBRL is correctly formed, conforms to the new FCA ‘zip’ structures for UKSEF and, if appropriate, issuing new package identifiers to products.

This testing service has been available since 3 March 2021 and needs to be booked in advance. You must book your slot one week in advance to avoid conflicts and to make sure that the testing service is available. Additional testing services will be made available in the future.