LONDON, November 22, 2010 /PRNewswire/ -- The Tax & Accounting business of Thomson Reuters today announced that its ONESOURCE and Digita iXBRL conversion tools are available for general release on CD. Both tools apply intelligent tagging to existing documents to produce fully compliant iXBRL submissions ready for HMRC.

The requirements of iXBRL are complex and a fully functional conversion tool of this type will appeal to two audiences. The ONESOURCE iXBRL Conversion Tool Version 1.0 is targeted at the corporate market and the Digita iXBRL Conversion Tool Version 1.0 is designed for accountancy firms. Both tools will apply conversion routines when final accounts are imported from an alternative source document, for example, accounts produced in Word or Excel.

With intuitive user interfaces, the ONESOURCE iXBRL Conversion and Digita iXBRL Conversion Tools use a clear and simple diagnostic traffic light system to manage risk associated with the new regime. They display a green light if the tags are considered ready for submission, amber for those that need attention and red for those cases where it may not be possible to convert all elements to iXBRL.

Both ONESOURCE and Digita iXBRL converter tools incorporate many innovative features including future proof elements which allow the user to transition to a full accounts production iXBRL solution. Both solutions can be used as standalone packages for one user or used by an office network. The Tools are released with both the UK GAAP and IFRS taxonomies with a commitment to update the software whenever changes are made.

Mike Roberts, head of the Corporate Market, EMEA for the Tax and Accounting Business of Thomson Reuters said: "It is pivotal for businesses to ensure they choose an iXBRL solution that they can rely on and will grow with them.

"We see huge potential for the ONESOURCE Accounts Production suite, of which the iXBRL Conversion tool forms a part, with a number of FTSE 100 companies, including the Thomson Reuters Corporation, having already purchased the software."

Jerry Rihll, managing director of Digita and head of the Accounting Firm Market for the Tax & Accounting business of Thomson Reuters commented: "With both iXBRL solutions carrying HMRC recognition, MNCs and accounting firms can feel secure knowing our software is developed by a team that understands HMRC requirements.

"It is a hugely exciting time to be working in the world of tax and accounting. Practitioners can benefit today from technological innovations that simplify compliance, cut costs and in turn, strengthen foundations for future growth."

For more information on ONESOURCE and Digita iXBRL conversion tools, visit: http://thomsonreuters.com/products_services/taxacct/united_kingdom/

About Thomson Reuters

Thomson Reuters is the world's leading source of intelligent information for businesses and professionals. We combine industry expertise with innovative technology to deliver critical information to leading decision makers in the financial, legal, tax and accounting, healthcare and science and media markets, powered by the world's most trusted news organization. With headquarters in New York and major operations in London and Eagan, Minnesota, Thomson Reuters employs more than 50,000 people and operates in over 100 countries. For more information, go to www.thomsonreuters.com.

The Tax & Accounting business of Thomson Reuters is the leading provider of technology and information solutions, as well as integrated tax compliance software and services to accounting, tax and corporate finance professionals in accounting firms, corporations, law firms and government. Headquartered in New York, Tax & Accounting has major operations in Ann Arbor, Dallas, Hyderabad, London, Sydney, and Toronto. For more information, go to http://thomsonreuters.com/products_services/taxacct/.

SOURCE: The Tax SOURCE: &SOURCE: Accounting business of Thomson Reuters

CONTACT: Tina Allen for The Tax & Accounting business of Thomson Reuters,PR MANAGER EMEA, +44 (0)207 375 6814, Tina.allen@thomsonreuters.com; orCarolyn Gordon-Smith of Cimma, cgs@cimma.co.uk, for The Tax & Accountingbusiness of Thomson Reuters