Deferred income tax (Tables)

12 Months Ended

Dec. 31, 2022

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Schedule of Deferred Income Tax

All figures in £ millions	2022			2021
Deferred income tax assets		57			57
Deferred income tax liabilities		(37	)		(40	)
Net deferred income tax asset/(liability)		20			17

Schedule of Detailed Information about Unrecognised Tax Losses Explanatory

At 31 December 2022, the Group has gross tax losses for which no deferred tax asset is recognised of £547m (2021: £721m). The expiry date and key geographic split of these losses is set out in the following table.

	Gross								Tax effected
Year ended 31 December 2022	UK		US		Other		Total		UK		US		Other		Total
Tax losses expiring:
Within 10 years		–		3		30		33		–		–		10		10
Within 10-20 years		–		104		–		104		–		5		–		5
Available indefinitely		166		30		214		410		41		2		68		111
Total		166		137		244		547		41		7		78		126

	Gross								Tax effected
Year ended 31 December 2021	UK		US		Other		Total		UK		US		Other		Total
Tax losses expiring:
Within 10 years		–		9		27		36		–		–		10		10
Within 10-20 years		–		297		–		297		–		14		–		14
Available indefinitely		166		86		136		388		41		5		49		95
Total		166		392		163		721		41		19		59		119

Schedule of Movement on Net Deferred Income Assets and Liabilities

The movement in deferred income tax assets and liabilities during the year is as follows:

All figures in £ millions	Trading losses		Accruals and other provisions			Retirement benefit obligations			Deferred revenue		Goodwill and intangibles			Interest         limitations			Other			Total
Deferred income tax assets/(liabilities)
At 1 January 2021		47		35			(49	)		45		(209	)		76			25			(30	)
Exchange differences		–		(1	)		–			–		(2	)		–			2			(1	)
Acquisition of subsidiaries		1		–			–			–		4			–			–			5
Income statement benefit/(charge)		34		30			2			7		29			(21	)		35			116
Tax charge in OCI		–		–			(61	)		–		–			–			(12	)		(73	)
At 31 December 2021		82		64			(108	)		52		(178	)		55			50			17
Exchange differences		–		7			2			6		(21	)		6			4			4
Acquisitions and disposals of subsidiaries		7		–			–			–		(21	)		–			(12	)		(26	)
Income statement benefit/(charge)		37		(4	)		(9	)		5		14			(6	)		(7	)		30
Tax charge in OCI / equity		4		–			(12	)		–		–			–			3			(5	)
At 31 December 2022		130		67			(127	)		63		(206	)		55			38			20