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How to iXBRL tag the Profit & Loss

Last modified 07:50, 24 Apr 2017

Overview

This section explains how to tag the Profit & Loss within CCh Corporation Tax.

Tagging the detailed Profit & Loss

It became mandatory to tag the detailed profit and loss for accounting periods commencing on or after 1 April 2014. The detailed profit and loss can be tagged in either the Accounts or within the corporation tax computation.

HMRC require a tagged detailed profit & loss to be submitted with either the accounts or computations.

 To tag the Profit & Loss in CCH Corporation Tax:

  1. Create or insert the Profit & Loss. See Creating a Profit & Loss help.
  2. Select Enable tagging from the Profit & Loss Actions panel in the left hand task bar
  3. Select the taxonomy to be used from the next window

tag.jpg

  1. Click  OK
  2. The software will proceed to automatically tag all items based upon the descriptions used in each of the analysis data entry areas. Tagged values are indicated by the blue spot alongside the value within the Tag column. 


Tagged.jpg

  1. Items which are not tagged automatically are items where
  • Where there is more than one tag that could be applied - the value will display a red spot 
  • The description used has no associated tag within the data dictionary.

Note

CCH Corporation Tax has the facility to add new descriptions and associate a tag to that description. Simply follow the steps 10 and 11 and the description along with the tag is automatically added to the dictionary. Whenever the description is used again the software will assign the tag.

  1. To tag values where there could be more than one possible matches click on the red spot in the Tag column
  2. From the next window choose the tag that best matches the value by highlighting it

tagchoice.jpg

  1. Then click Add
  2. Then next step is to add the dimension to each tag. Right click on any of the blue cog icon within the tag column
  3. Select Add/Edit tag

dimension.jpg

  1. This displays the tag applied. Click OK

dimensionselection.jpg

  1. Tick the box Show all dimension data
  2. Expand the Expense Type option
  3. Tick one of the boxes that applies to the category you are tagging
  • Administrative expenses
  • Cost of sales
  • Distribution costs
  • Total costs
  1. Click OK
  2. Where the same tag is used more than once in the same category e.g Administrative expenses you will need to indicate that the second and subsequent use of the tag are items of analysis. This ensures that no online filing errors are encountered. To do this repeat steps 10, 11 and 12
  3. At step 13 expand the option Detailed analysis
  4. Tick the box alongside one of the item options. Item 2 being the second time the tag is used and so on.

This is not necessary if using the same tag within different analysis categories

 

  1. Repeat steps 10 through 19 for all tags and for all categories of analysis

 

Roll forward to new periods of account

The tagged detailed profit & loss is carried forward to subsequent periods of account with the tags already applied together with the associated dimensions.

The tags and dimensions will only be lost if the descriptions are changed either manually or by updating from CCH Accounts Production.

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