Trade and other payables

12 Months Ended

Dec. 31, 2023

Trade and other payables

Trade and other payables

20 Trade and other payables

Accounting policy

Deferred income is recognised when either a customer has paid consideration, or RELX has an unconditional right to an amount of consideration, in advance of the goods and services being delivered.

Trade payables, accruals and other payables are predominantly non-interest-bearing and are stated at their nominal values.

	2022 £m	2023 £m
Trade payables	129	171
Accruals	844	842
Social security and other taxes	159	174
Other payables	517	487
Deferred income	2,368	2,297
Total	4,017	3,971

Trade and other payables are predominantly non-interest bearing and their carrying amounts approximate to their fair value.

Materially all of the opening deferred income balance has been recognised in the reporting period.