Overview

BrightAccountsProduction now supports the FRC 2025 iXBRL taxonomy suite for Company and LLP accounts.

The system automatically selects the correct taxonomy version based on your accounting period end date:

• Periods ending on or before 31 March 2026 → FRC 2023 taxonomy
• Periods ending after 31 March 2026 → FRC 2025 taxonomy

Both UK and Irish taxonomy extensions are fully supported.

No user action is required — the correct taxonomy is applied automatically when generating accounts.

Background

The Financial Reporting Council (FRC) periodically updates the iXBRL taxonomy to reflect changes in reporting standards and tagging requirements.

This update upgrades the system from FRC 2023 to FRC 2025, ensuring:

• Continued compliance with regulatory filing requirements
• Alignment with the latest taxonomy structures and definitions
• Support for updated UK and Irish reporting frameworks

What’s New

• Full support for the FRC 2025 taxonomy suite
• Automatic date-based taxonomy selection
• Support for FRC 2025 Irish extension
• Updated taxonomy processing and validation logic
• Seamless handling of new, changed, and deprecated tags

Key Benefits

• Ensures compliance with latest FRC filing requirements
• Removes need for manual taxonomy selection
• Supports both UK and Irish entities
• Maintains compatibility with existing (FRC 2023) accounts
• Improves accuracy and consistency of iXBRL tagging

How It Works

The system determines the correct taxonomy automatically:

• If your accounting period ends after 31 March 2026, FRC 2025 is applied
• If your accounting period ends on or before 31 March 2026, FRC 2023 remains available

Existing accounts created under FRC 2023 will continue to function without disruption.

Impact on Accounts and Templates

• All Company and LLP templates have been updated to support FRC 2025
• iXBRL tagging has been aligned with the new taxonomy structure
• Deprecated tags have been replaced with appropriate alternatives
• Tagging logic has been enhanced to maintain data accuracy
• Historical accounts retain their original taxonomy version

Note: Charity entities are not included in this update and continue to use FRC 2024 taxonomy.

Summary

This update introduces full support for the FRC 2025 taxonomy while maintaining backward compatibility with FRC 2023. The transition is handled automatically, ensuring a smooth and compliant experience for all Company and LLP accounts.

If you are working with existing accounts, no changes are required. For new accounts, the correct taxonomy will be applied based on the period end date.