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Deferred tax (Tables)
 6 Months Ended
Dec. 31, 2018
Deferred tax  
Schedule of deferred taxes

 

The following is the analysis of the deferred tax balances (after allowable offset) for financial reporting purposes:

 

 

 

31 December
2018
£’000

 

Restated(1)
30 June
2018
£’000

 

Restated(1)
31 December
2017
£’000

 

US deferred tax assets

 
(57,636

)
(63,332

)
(77,500

)

UK deferred tax liabilities

 
33,302

 
29,134

 
35,801

 

 

 

 

 

 

 

 

 

Net deferred tax asset

 
(24,334

)
(34,198

)
(41,699

)

 

 

 

 

 

 

 

 

 

The movements in the net deferred tax asset are as follows:

 

 

 

31 December
2018
£’000

 

Restated(1)
30 June
2018
£’000

 

Restated(1)
31 December
2017
£’000

 

At the beginning of the period

 
(34,198

)
(119,949

)
(119,949

)

Expensed to the income statement

 
9,974

 
63,519

 
65,334

 

(Credited)/expensed to other comprehensive income

 
(110

)
21,685

 
10,593

 

Reclassification to tax receivable

 

—

 
547

 
2,323

 

 

 

 

 

 

 

 

 

At the end of the period

 
(24,334

)
(34,198

)
(41,699

)

 

 

 

 

 

 

 

 

 

 

(1) Comparative amounts have been restated - see note 34 to the interim consolidated financial statements for further details.