Bristol, 22nd November, 2011 – UNIT4 Business Software Ltd, the UK division of UNIT4, the world’s leading provider of business software for Businesses Living IN Change (BLINC™), today announced that financial services firm, Hornbuckle Mitchell, has selected File4 to help it comply with new regulations from HM Revenue & Customs (HRMC).
HMRC mandated that from April this year, organisations must convert and submit their MS Word-based corporation tax statutory accounts data to the new iXBRL format. File4 is a Software-as-a-Service (SaaS) solution delivered by UNIT4 and powered by Seahorse from CoreFiling. It provides a secure on-demand service which delivers predictive intelligent tagging of UK GAAP or IFRS company accounts in MS Word format, converting them into iXBRL, the open, global standard for exchanging business information.
“The new regulations from the HMRC prompted us to review how we submitted our accounts,” said John Kennedy, Financial Controller at Hornbuckle Mitchell. “In our regulated industry compliance is paramount. Having looked at a number of alternatives, we found that they could not offer us the functionality we needed at a competitive cost.”
File4 is simple to use and the conversion to iXBRL is largely automatic, requiring minimal user intervention, no specific knowledge of iXBRL, and no additional software.
John concluded: “All in all, what would have been a very time consuming, complex and expensive process has been made very easy by File4. It has saved us money and time and ensured we have met our new reporting obligations on time and with ease.”
Hornbuckle Mitchell provides a range of Self Invested Personal Pensions (SIPPs) and Small Self Administered Schemes (SSASs) to around 15,000 members across the UK.
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About UNIT4
UNIT4 is a global business software and services company aimed at helping dynamic public sector, and commercial services organisations to embrace change simply, quickly and cost effectively in a market sector it calls 'Businesses Living IN Change' (BLINC)™. The Group incorporates a number of the world’s leading change embracing software brands including Agresso Business World, our flagship ERP suite for mid-sized services intensive organisations and Coda, our best-of-class financial management software.
With operations in 17 European countries, as well as 7 countries across North America, Asia Pacific and Africa and sales activities in several other countries, its revenue was €421.7 million in 2010.
In the UK we focus strongly on the public sector, where we are the leading provider of ERP systems to local government and post 16 education organisations, as well as having a considerable presence in the emergency services and health sectors. We also focus strongly on professional services organisations and a range of commercial sectors including Financial Services, Retail and Media and Publishing. Overall we aim to be the UK’s foremost business software company, providing solutions that transform the delivery of public services and comprehensively support commercial organisations in their ability to adapt and prosper in rapidly changing environments.
UNIT4 is headquartered in Sliedrecht, the Netherlands and has over 4,000 employees. It is listed on Euronext Amsterdam and is included in the Amsterdam Midcap Index (AMX).
For more information on UNIT4 or any of its operating companies, please visit the website at www.unit4software.co.uk and follow us on Twitter @UNIT4_UK
