2025 Taxonomy Suite published
News types: Publications
Published: 21 October 2024
The Financial Reporting Council has published the 2025 UK Taxonomy Suite.
The 2025 suite incorporates changes to all of the FRC’s Taxonomies - UK IFRS, FRS 101, FRS 102, UKSEF, Charities and Irish extensions – available in English or Welsh. In addition, the Suite contains taxonomy documentation, supporting documents, key information sheets and release notes.
The publication follows a consultation on a draft of the taxonomies in the summer. A feedback statement is available here. Though the public consultation has now closed, it is always possible to feedback to the XBRL Taxonomies Team via Yeti or email to [email protected].
The amendments are summarised as follows but users are strongly recommended to read the changelog.pdf file in the Taxonomy Suite zip folder download. This gives substantially more detail on the proposed changes for this year and supports the use of the Excel mapping files.
Key changes to the 2025 Taxonomy Suite:
- Taxonomy elements have been updated and added to enable UKEB endorsed Supplier Finance Arrangements: Amendments to IAS 7 and IFRS 7 and Lack of Exchangeability: Amendments to IAS 21
- Taxonomy elements have been updated and added to enable amendments to UK Financial Reporting Standards (FRED 82 and FRED 84).
- New entry points and elements have been added to enable digital reporting of Community Interest Company (CIC-34) report and Dormant Subsidiary Exempt Package accounts to Companies House
- Creation of a new DPL core schema and removal of the DPL presentation from the core entrypoint.
- Changed balance types and labels of “Issue of bonus shares”, “Increase (decrease) in net debt”, and “Past service cost of defined benefit plan” to better reflect their meaning.
- Updated “Average number of employees during the period” to use the nonNegativeDecimalItemType to address the issue where numbers of employees are incorrectly reported as a negative number.
- The Charities extension has been updated.
- The Irish extension has been updated this year, and includes the changes made in the 2024 Taxonomy Suite