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Trade and other receivables

6 Months Ended

Jun. 30, 2021

14.	Trade and other receivables

Amounts falling due within one year:


	30 June 2021		31 December 2020
	£m		£m
Trade receivables		5,877.1		6,572.2
Work in progress		279.1		264.1
VAT and sales taxes recoverable		284.4		236.6
Prepayments		265.6		248.1
Accrued income		3,023.4		3,150.1
Fair value of derivatives		1.8		0.2
Other debtors		493.1		501.0
		10,224.5		10,972.3

Amounts falling due after more than one year:


	30 June 2021		31 December 2020
	£m		£m
Fair value of derivatives		14.4		9.6
Prepayments and other debtors		163.1		146.6
		177.5		156.2

The Group considers that the carrying amount of trade and other receivables approximates their fair value.

A credit to bad debt expense of £10.6 million (period ended 30 June 2020: expense of £29.2 million; year ended 31 December 2020: expense of £40.8 million) on the Group’s trade receivables was recognised in the period as a

result of the reduction in expected credit losses since 31 December 2020. The allowance for bad and doubtful debts is equivalent to 1.4% (31 December 2020: 1.7%) of gross trade receivables.