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Income tax expense
6 Months Ended
Dec. 31, 2019
Income tax expense  
Income tax expense

11         Income tax expense

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended

 

Six months ended

 

 

31 December

 

31 December

 

    

2019

    

2018

    

2019

    

2018

 

 

£’000

 

£’000

 

£’000

 

£’000

Current tax

 

  

 

  

 

  

 

  

Current tax on profit for the period

 

(6,073)

 

(1,953)

 

(6,673)

 

(2,603)

Foreign tax

 

(205)

 

(292)

 

(655)

 

(403)

Adjustment in respect of previous years

 

(32)

 

 —

 

(32)

 

 —

Total current tax expense

 

(6,310)

 

(2,245)

 

(7,360)

 

(3,006)

Deferred tax

 

 

 

 

 

 

 

 

Origination and reversal of temporary differences

 

(6,432)

 

(8,633)

 

(6,783)

 

(9,974)

Re-measurement of US deferred tax asset

 

(3,996)

 

 —

 

(3,996)

 

 —

Total deferred tax expense

 

(10,428)

 

(8,633)

 

(10,779)

 

(9,974)

Total income tax expense

 

(16,738)

 

(10,878)

 

(18,139)

 

(12,980)

 

Tax is recognized based on management’s estimate of the weighted average annual tax rate expected for the full financial year. Based on current forecasts, the estimated weighted average annual tax rate used for the year to 30 June 2020 is 32.58% (30 June 2019: 28.2%).

In addition to the amounts recognized in the statement of profit or loss, the following amounts relating to tax have been recognized in other comprehensive income:

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended

 

Six months ended

 

 

31 December

 

31 December

 

    

2019

    

2018

    

2019

    

2018

 

 

£’000

 

£’000

 

£’000

 

£’000

Current tax

 

(529)

 

(1,453)

 

(932)

 

(959)

Deferred tax (note 18)

 

1,476

 

1,254

 

325

 

110

Total income tax credit/(expense) recognized in other comprehensive income

 

947

 

(199)

 

(607)

 

(849)