Taxation for the year comprises current and defened tax. Tax is recognised in the Income Statement, except to
the extent that it relates to items recognised in Other Comprehensive lncome or directly in Equity.
Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted
or substantively enacted by the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
reporting date.
Timing differences arise from the inclusion of income and expenses in tax assessments in periods different ftom
those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws
that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal
of the timing difference.
Unrelieved tax losses and other defened tax assets are recognised only to the extent that it is probable that they
will be recovered against the reversal of deferred tax liabilities or other future taxable profits.