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v3.24.2

Tax - Reconciliation (Details) - GBP (£) £ in Millions | 6 Months Ended |
--- | --- | ---
Jun. 30, 2024 | Jun. 30, 2023 | Dec. 31, 2023
Tax |  |  |
UK corporation tax | 25.00% | 23.50% |
Profit before tax | £ 3,029 | £ 3,589 |
Expected tax charge | (757) | (843) |
Losses and temporary differences in period where no deferred tax assets recognised | (10) | (38) |
Foreign profits taxed at other rates | 17 | (21) |
losses on disposals and write-downs | (9) | (1) |
UK Bank Levy | (16) | (12) |
regulatory and legal actions | (3) | (3) |
other disallowable items | (17) | (18) |
FX recycling on UBIDAC capital reduction |  | 75 |
RPI-related uplift on index-linked gilts | 18 | 6 |
other non-taxable items | 4 | 8 |
Taxable foreign exchange movements | 2 | 6 |
Unrecognised losses bought forward and utilised | 12 | 8 |
Banking surcharge | (81) | (144) |
Pillar 2 top-up tax | (11) |  |
Tax on paid-in equity dividends | 33 | 22 |
Adjustments in respect of prior years | 17 | (106) |
Tax charge for the period | (801) | £ (1,061) |
Deferred tax asset | 1,719 |  | £ 1,894
Deferred tax liability | 108 |  | 141
Total losses carried forward |  |  |
Tax |  |  |
Deferred tax asset | £ 853 |  | £ 1,019

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