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Press Release: Arkk Solutions Tag Over 4,000 sets of iXBRL Accounts

LONDON, October 25, 2017 /PRNewswire/

In the run-up to the busiest filing period of the year, Arkk Solutions' HMRC and Revenue clients have confidence in the experienced Belfast operation who are ready to tag over 4,000 sets of iXBRL accounts by 2018.

Following support from Invest NI, Arkk Solutions continue to grow their qualified iXBRL outsourcing team. The company, who've been running their iXBRL tagging operation from Belfast since 2015, use proprietary software to tag and review accounts ready for submission to HMRC in the UK and to Revenue in the Republic of Ireland.

The Belfast tagging function has grown from a team of six in 2015 to a team of 15 reviewers, taggers and account managers. "We're preparing to tag 1,000 more documents than last year" said Lucy Gordon, Head of iXBRL Operations. "We've seen real progress with our eight-week training program - our tagging and reviewing teams are even stronger than this time last year."

The local expertise is invaluable for tagging accounts, a process which requires a perception of interpreting requirements as much as learning the technical taxonomies. At Arkk Solution, taggers and reviewers are assigned to the same accounts to learn how individuals prepare their returns.

With the FRS 101/102 standards, many firms are no longer able to submit minimum tagging. That's why it's important that Arkk Solutions apply these full tags.

"For clients, this means being able to talk directly to the person who has tagged their iXBRL accounts," added Gordon. "We anticipate this being especially valuable this year for our Irish customers who may have queries around the new FRS 101/102 and EU IFRS tags."

Arkk Solutions provide an outsourced tagging service for HMRC and Revenue filers across the UK and Ireland. Their clients include Top FTSE 100 firms and multinational enterprises.