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TAXATION | 12 Months Ended
--- | ---
Mar. 31, 2022
Taxation |
TAXATION |
8. | TAXATION
SCHEDULE OF TAX CREDIT PERIOD
|  | 2022 $ |  |  | 2021 $ |  |  | 2020 $ |
|  | Year ended March 31, |
|  | 2022 $ |  |  | 2021 $ |  |  | 2020 $ |
Group |  |  |  |  |  |  |  |  |
Current year tax (credit) |  |  | (509,282 | ) |  |  | (24,952 | ) |  |  | - |
Adjustments in respect of prior periods |  |  | (277,239 | ) |  |  | (42 | ) |  |  | (76,289 | )
Deferred tax |  |  |  |  |  |  |  |  |  |  |  |
Origination and reversal of timing differences |  |  | - |  |  |  | - |  |  |  | - |
Total tax (credit) for the period |  |  | (786,521 | ) |  |  | (24,994 | ) |  |  | (76,289 | )
The tax charge for the year is different from the standard rate of corporation tax in the United Kingdom of 19%. The difference can be reconciled as follows: |  |  |  |  |  |  |  |  |  |  |  |
Loss before taxation |  |  | (6,045,372 | ) |  |  | (3,378,501 | ) |  |  | (1,620,347 | )
Loss charged at standard rate of corporation tax 19% |  |  | (1,181,337 | ) |  |  | (641,915 | ) |  |  | (307,866 | )
Tax losses arising in the year not recognized |  |  | 524,870 |  |  |  | 660,594 |  |  |  | 340,114 |
Tax losses surrendered for Research and Development |  |  | 667,335 |  |  |  | - |  |  |  | - |
Expenses not deductible for taxation |  |  | 370,306 |  |  |  | - |  |  |  | 145 |
Tax increase from effect of capital allowances and depreciation |  |  | (3 | ) |  |  | (334 | ) |  |  | 81 |
Research and Development tax claim |  |  | (509,282 | ) |  |  | (43,432 | ) |  |  | - |
Research and Development enhanced expenditure |  |  | (377,187 | ) |  |  | - |  |  |  | - |
Research and Development tax credits claimed in respect of previous periods |  |  | (277,240 | ) |  |  | (42 | ) |  |  | (76,289 | )
Consolidation adjustment in relation to foreign exchange movements |  |  | (3,983 | ) |  |  | 135 |  |  |  | (32,504 | )
Loans written off |  |  | - |  |  |  | - |  |  |  | - |
Total tax (credit) for the period |  |  | (786,521 | ) |  |  | (24,994 | ) |  |  | (76,289 | )
No deferred tax asset has been recognized in respect of trading losses carried forward because of uncertainty as to when these losses will be recoverable. The Group has tax losses of $15,870,525 (2021: $9,411,521, 2020: $4,421,886) to carry forward for use against future profits.

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