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TAX EXPENSE (Details) - Schedule of Reconciliation of the Charge Resulting from Applying the Standard UK Corporation Tax Rate - GBP (£)
£ in Millions
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Disclosure of income tax [Abstract]      
Profit before tax £ 1,226 £ 4,393 £ 5,960
UK corporation tax thereon (233) (835) (1,132)
Impact of surcharge on banking profits (107) (364) (409)
Non-deductible costs: conduct charges (24) (370) (101)
Non-deductible costs: bank levy (38) (43) (43)
Other non-deductible costs (74) (121) (90)
Non-taxable income 59 40 87
Tax relief on coupons on other equity instruments 86 89 83
Tax-exempt gains on disposals 81 102 124
Tax losses where no deferred tax recognised (58) 18 (9)
Remeasurement of deferred tax due to rate changes 350 (6) 32
Differences in overseas tax rates 15 (14) 6
Policyholder tax (46) (67) (62)
Policyholder deferred tax asset in respect of life assurance expenses 49 (53) 73
Adjustments in respect of prior years 104 237 (13)
Tax effect of share of results of joint ventures (3) 0 0
Tax credit (expense) £ 161 £ (1,387) £ (1,454)