Taxation for the year comprises current and deferred tax. Tax is reconnised in the Income Statement, except
to the extent that it relates to items recognised in other comprehensive income or directly in equity.
Current or deferred traxation assets and liabilities are not discounted.
Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted
or substantively enacted by the statement of financial position date.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the
statement of the financial position date.
Tiiming differences arise from inclusion of income and expenses in tax assessments in periods different from
those in which they are recongnised in finanacial statements. Deferred tax is measured using the tax rates and tax laws
that have been enacted or substantively enactedby the year end and that are expected to apply to the reversal of the
timing difference.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that
they will be recovered against the reversal of deferred tax liabilities or other future taxable profits