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About In House Tax

About In House Tax

This weblog is a news and views site for tax professionals within the UK and international in-house tax community.  You will find information about appointments and people moves in and around the in-house tax market, issues affecting the in-house tax professional, opinions on the state of the tax job market, updates on tax technology, and other general thoughts of the day.

Hope you find it useful.

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Location: St Albans, United Kingdom

This site has been developed by Simon Godley, who also runs the niche tax recruitment company Talentpool Selection . Simon spends a lot of his time placing tax specialists into FTSE companies, large in-bound groups and some professional services organisations. He also recruits and is well networked around the UK tax technology and VAT markets.

Tax News

Tax Directors say iXBRL will drive takeup of corporate tax software

Monday, 9 August 2010

Over 60% of Tax Directors anticipate making greater use of corporate tax software due to new iXBRL obligations

This is one of the conclusions from Winmark’s third benchmarking survey of in-house Tax Directors. The headline results were announced on 27th July evening at a reception sponsored by the Chartered Institute of Taxation (CIOT).

Out of over 100 respondents to the Tax Director Network survey, 15% said that they do not use corporate tax software and a further 12% said they use such software only to a very limited degree. When asked whether they anticipate that their departments will make greater use of corporate tax software in the coming year, 60% said “yes, due to the new iXBRL efiling obligations”.

According to Mark Lee, head of the Tax Director Network which arranged the survey, the move to iXBRL is fueling greater interest in the benefits of corporate tax software. “A surprising number of organisations still seem to rely on spreadsheets although this may be due to perceived constraints in the available software. The requirement for consistent iXBRL tagging will mean that more organisations will be using corporate tax software by this time next year.”

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posted by Simon Godley


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