Page 67 - Housing Solutions Annual Report
P. 67
Tax on Surplus on Ordinary Activities (continued)
Analysis of Charge in Period
The tax assessed for the year is lower than the standard rate of corporation tax in the United Kingdom at
19% (2019: 19%)
The differences are explained as follows:
Group Group Association Association
2020 2019 2020 2019
£’000 £’000 £’000 £’000
Total tax reconciliation
Surplus on ordinary activities before tax 3,666 3,311 3,635 3,309
SOCI
Expected tax at 19% (2019: 19%) 697 629 691 629
Effects of:
Income not taxable for tax purposes (691) (618) (691) (629)
Use of losses where no deferred tax (5) (11) - -
Adjust closing deferred tax to average rate - - - -
Adjust opening deferred tax to average rate - - - -
Total tax charge for the period 1 - - -
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