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

)