XML 41 R34.htm IDEA: XBRL DOCUMENT v3.25.2
Tax (Tables)
6 Months Ended
Jun. 30, 2025
Income taxes paid (refund) [abstract]  
Schedule of relationship between tax expense and accounting profit An explanation of the relationship between tax expense and accounting profit is set out below:
Half-year
to 30 Jun
2025
£m
Half-year
to 30 Jun
2024
£m
Half-year
to 31 Dec
2024
£m
Profit before tax
3,504
3,324
2,647
UK corporation tax thereon at 25.0% (2024: 25.0%)
(876)
(831)
(662)
Impact of surcharge on banking profits
(86)
(83)
(74)
Non-deductible costs: conduct charges
1
4
(31)
Non-deductible costs: bank levy
(37)
Other non-deductible costs
(127)
(39)
(34)
Non-taxable income
19
27
51
Tax relief on coupons on other equity instruments
61
67
58
Tax-exempt gains on disposals
25
33
65
Tax losses where no deferred tax recognised
(4)
(2)
(5)
Remeasurement of deferred tax due to rate changes
3
(3)
Differences in overseas tax rates
7
(9)
Policyholder tax
(35)
(46)
(29)
Deferred tax asset in respect of life assurance expenses
(40)
(5)
Adjustments in respect of prior years
95
(12)
106
Tax effect of share of results of joint ventures
(1)
Provision for Pillar 2 current income taxes
(5)
Tax expense
(960)
(880)
(614)