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Income tax (Tables)
 12 Months Ended
Dec. 31, 2022
Text block [abstract]  
Summary of Components of Current Tax Expense Income and Adjustments for Current Tax of Prior Periods
         
All figures in £ millions
   
Notes
     
2022
    
2021
1 
    
2020
1 
  
         
Current tax
                                  
         
Charge in respect of current year
            
 
(127
) 
  
 
(103
) 
  
 
(18
) 
         
Adjustments in respect of prior years
   
 
 
 
   
 
             18
 
  
 
(12
) 
  
 
               4
 
         
Total current tax charge
   
 
 
 
   
 
(109
) 
  
 
(115
) 
  
 
(14
) 
         
Deferred tax
                                  
         
In respect of temporary differences
            
 
29
 
  
 
103
 
  
 
(34
) 
         
Other adjustments in respect of prior years
   
 
 
 
   
 
1
 
  
 
             13
 
  
 
(2
) 
         
Total deferred tax credit/(charge)
   
 
13
 
   
 
30
 
  
 
116
 
  
 
(36
) 
         
Total tax (charge)/credit
   
 
 
 
   
 
(79
) 
  
 
1
 
  
 
(50
) 
 
1.
  Comparative balances have been restated – see Note 1b.
Summary of Profit Before Tax Differences Calculated The tax on the Group’s profit before tax differs from the theoretical amount that would arise using the UK tax rate as follows:
         
All figures in £ millions
           
2022
    
2021
    
2020
  
         
Profit before tax
            
 
323
 
  
 
177
 
  
 
380
 
         
Tax calculated at UK rate (2022: 19%; 2021: 19%; 2020: 19%)
            
 
(62
) 
  
 
(34
) 
  
 
(72
) 
         
Effect of overseas tax rates
            
 
(12
) 
  
 
(24
) 
  
 
(7
) 
         
Effect of UK rate change
            
 
3
 
  
 
             25
 
  
 
(5
) 
         
Joint venture and associate income reported net of tax
            
 
–
 
  
 
–
 
  
 
1
 
         
Intra-group financing benefit
            
 
–
 
  
 
7
 
  
 
14
 
         
Net expense not subject to tax
            
 
(9
) 
  
 
(9
) 
  
 
(7
) 
         
Gains and losses on sale of businesses not subject to tax
            
 
2
 
  
 
4
 
  
 
             21
 
         
Unrecognised tax losses
            
 
3
 
  
 
9
 
  
 
(21
) 
         
Benefit from changes in local tax law
            
 
–
 
  
 
11
 
  
 
–
 
         
Benefit from US accounting method changes
            
 
–
 
  
 
11
 
  
 
–
 
         
Movement in provisions for tax uncertainties - current year
            
 
(23
) 
  
 
–
 
  
 
24
 
         
Adjustments in respect of prior years - movement in provisions for tax uncertainties
            
 
             13
 
  
 
–
 
  
 
–
 
         
Adjustments in respect of prior years - other
   
 
 
 
   
 
6
 
  
 
1
 
  
 
2
 
         
Total tax (charge)/credit
   
 
 
 
   
 
(79
) 
  
 
1
 
  
 
(50
) 
         
UK
            
 
(41
) 
  
 
27
 
  
 
23
 
         
Overseas
   
 
 
 
   
 
(38
) 
  
 
(26
) 
  
 
(73
) 
         
Total tax (charge)/credit
   
 
 
 
   
 
(79
) 
  
 
1
 
  
 
(50
) 
         
Tax rate reflected in earnings
   
 
 
 
   
 
24.5%
 
  
 
(0.6)%
 
  
 
13.2%
 
 
1.
  Comparative balances have been restated – see Note 1b.
Summary of Tax (Charge)/Benefit Recognised in Other Comprehensive Income
The tax benefit/(charge) recognised in other comprehensive income is as follows:
 
       
All figures in £ millions
   
2022
    
2021
    
2020
  
       
Net exchange differences on translation of foreign operations
   
 
               4
 
  
 
             10
 
  
 
(13
) 
       
Fair value gain on other financial assets
   
 
1
 
  
 
(1
) 
  
 
–
 
       
Remeasurement of retirement benefit obligations
   
 
(12
) 
  
 
(61
) 
  
 
               2
 
       
 
   
 
(7
) 
  
 
(52
) 
  
 
(11
) 
 
1.
  Comparative balances have been restated – see Note 1b.