1. STANDARD BUSINESS REPORTING: A UK VIEW Standard Business Reporting, XBRL Canada, Ottawa 24 November 2015 Roy Warden Head of HMRC Corporation Tax processes

2. Protective marking – OFFICIAL The legal requirement “… to deliver a return…” HMRC NL Standard | 24/03/2015 | 2

3. Protective marking – OFFICIAL HMRC | 24/03/2015 | 3 Paper Filing Portal

4. Protective marking – OFFICIAL Paper Warehouse HMRC | 24/03/2015 | 4

5. Protective marking – OFFICIAL Paper Warehouse HMRC | 24/03/2015 | 5

6. Protective marking – OFFICIAL International state of play Denmark: mandatory SBR with XBRL across agencies but excluding tax; Netherlands: voluntary SBR with XBRL with particular links to banking; Finland: developed SBR concept and planning to adopt XBRL and build a government filing gateway; UK: mandatory XBRL for corporation tax, including accounts, and joining up with company registrar; Sweden: adopted voluntary XBRL for company registrar, but abandoned because of poor take up; Norway: data standards prescribed for each agency, but does not feel need for XBRL. HMRC NL Standard | 24/03/2015 | 6

7. Protective marking – OFFICIAL What HMRC has done: 1990’s – introduction of IT for mass data transactions 2005 – online filing for Corporation Tax becomes possible 2009 – online filing in iXBRL format becomes possible 2009 – joint filing to HMRC and Companies House becomes possible 2011 – online Corporation Tax filing in iXBRL format becomes mandatory HMRC NL Standard | 24/03/2015 | 7

8. Protective marking – OFFICIAL What went well: political consensus engagement with external stakeholders – agents engagement with external stakeholders – software industry standards HMRC NL Standard | 24/03/2015 | 8

9. Protective marking – OFFICIAL A warning! HMRC NL Standard | 24/03/2015 | 9

10. Protective marking – OFFICIAL Why do we need standards? HMRC NL Standard | 24/03/2015 | 10

11. Protective marking – OFFICIAL Using taxonomies HMRC NL Standard | 24/03/2015 | 11

12. Protective marking – OFFICIAL Various Levels of Granularity Analytical processes require the acquisition, validation, analysis and reporting on information from a broad range of sources and granularity levels. Standardization of data from lower levels of transactional data also enables linkages (e.g. audit trails) from lower to higher levels within the abstraction. Transactions Ledgers (A/R, Inv, PPE, A/P, etc.) General Ledgers Trial Balance / Journal Entries Reports / Statements Increasingly more summarized information Information Standardization direction AICPA ADS ISO ADC XBRL / XML FpML, FiX, ACORD, MISMO etc. AICPA ADS ISO ADC AICPA ADS ISO ADC Standards Examples

13. Thank you Roy Warden HM Revenue & Customs 100 Parliament Street London SW1A 2BQ roy.warden@hmrc.gsi.gov.uk