Deferred income tax (Tables)

12 Months Ended

Dec. 31, 2023

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Schedule of Deferred Income Tax

All figures in £ millions	2023		2022
Deferred income tax assets		35		57
Deferred income tax liabilities		(46)		(37	)
Net deferred income tax (liability)/asset		(11)		20

Schedule of Detailed Information about Unrecognised Tax Losses Explanatory

At 31 December 2023, the Group has gross tax losses for which no deferred tax asset is recognised of £1,029m (2022: £547m). The expiry date and key geographic split of these losses is set out in the following table.

Year ended 31 December 2023	Gross								Tax effected
	UK		US		Other		Total		UK		US		Other		Total
Tax losses expiring:
Within 10 years		–		437		34		471		–		91		9		100
Within 10-20 years		–		143		–		143		–		7		–		7
Available indefinitely		168		48		199		415		42		2		65		109
Total		168		628		233		1,029		42		100		74		216

Year ended 31 December 2022	Gross								Tax effected
	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

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 2022		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
Exchange differences		(1	)		(3	)		(1	)		(3	)		9			(2	)		1			–
Acquisitions and disposals of subsidiaries		(3	)		6			–			–			(26	)		–			–			(23	)
Income statement benefit/(charge)		(25	)		(11	)		(6	)		(17	)		71			(19	)		(21	)		(28	)
Tax charge in OCI/ equity		–			–			20			–			–			–			–			20
At 31 December 2023		101			59			(114	)		43			(152	)		34			18			(11	)