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TAX EXPENSE - Schedule of Reconciliation of the Charge Resulting from Applying the Standard UK Corporation Tax Rate (Details) - GBP (£)
£ in Millions
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Disclosure of income tax [Abstract]      
Profit before tax £ 6,928 £ 6,902 [1] £ 1,226 [1]
UK corporation tax thereon (1,316) (1,311) (233)
Impact of surcharge on banking profits (339) (439) (107)
Non-deductible costs: conduct charges (5) (185) (24)
Non-deductible costs: bank levy (28) (22) (38)
Other non-deductible costs (72) (83) (74)
Non-taxable income 134 40 59
Tax relief on coupons on other equity instruments 83 81 86
Tax-exempt gains on disposals 67 140 81
Tax losses where no deferred tax recognised 11 (1) (58)
Remeasurement of deferred tax due to rate changes (53) 954 350
Differences in overseas tax rates (63) (19) 15
Policyholder tax (65) (63) (46)
Policyholder deferred tax asset in respect of life assurance expenses 33 (69) 49
Adjustments in respect of prior years 243 (40) 104
Tax effect of share of results of joint ventures (3) 0 (3)
Tax (expense) credit £ (1,373) £ (1,017) £ 161
[1] 1    Restated, see page F-16.