BANK OF ENGLAND UPDATES STATISTICS TAXONOMY TO VERSION 1.3.1

The Bank of England has issued Statistical Notice 2026/05, confirming that Statistics Taxonomy v1.3.1 will become mandatory for live submissions relating to end-May data. Firms must submit using the updated taxonomy from mid-June 2026. The new version replaces the existing Statistics Taxonomy v1.3.0. The update follows the release of a public working draft and subsequent feedback received from regulated firms.

Statistics Taxonomy v1.3.1 introduces technical enhancements, validation fixes, and data point model changes. Reporting requirements themselves remain unchanged, and firms should continue to use existing published definition documents when preparing submissions. The updated taxonomy is not backwards compatible with v1.3.0, meaning instance documents created under the previous version will not be valid for submission once the new version takes effect. Firms must update their reporting systems, confirm that internally generated XBRL instance documents reference the correct taxonomy entry points, and engage with software providers to confirm readiness.

The Bank of England has also confirmed that its Statistical Utility tool will no longer be supported as part of this taxonomy update. Firms that previously relied on the tool to generate XBRL files must make alternative arrangements before the mid-June 2026 implementation date. The Bank has directed firms to review the published change log and supporting materials to understand the full scope of technical changes between v1.3.0 and v1.3.1. Firms must also ensure that relevant internal teams are aware that submissions using the previous taxonomy version will not be accepted after the update takes effect.