New tax reporting regulations 'could cost millions', says Charity Finance Directors' Group - Third Sector: "Charities could incur 'astronomical' costs trying to meet the new reporting requirements for a tax they are exempt from paying, the Charity Finance Directors' Group has warned.
A new reporting system for corporation tax being introduced by HM Revenue & Customs in April 2011 will require all companies, including incorporated charities and trading subsidiaries, to submit annual accounts using a technology known as XBRL."
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