Tax (Tables)

6 Months Ended

Jun. 30, 2018

Tax

Schedule of reconciliation of actual tax charge from the expected tax charge

	Half year ended
	30 June		30 June
	2018		2017
	£m		£m
Profit before tax	1,826		1,951
Expected tax charge	(347	)	(376	)
Losses and temporary differences in period where no deferred tax asset recognised	(8	)	(156	)
Foreign profits taxed at other rates	1		72
Items not allowed for tax
- losses on disposals and write-downs	(26	)	(59	)
- UK bank levy	(16	)	(20	)
- regulatory and legal actions	(154	)	(21	)
- other disallowable items	(34	)	(34	)
Non-taxable items	8		62
Taxable foreign exchange movements	(5	)	9
Losses brought forward and utilised	18		3
Reduction in carrying value of deferred tax in respect of UK losses	(15	)	—
Banking surcharge	(188	)	(199	)
Adjustments in respect of prior periods	25		(8	)
Actual tax charge	(741	)	(727	)