BT 2015 Annual Report Download - page 166

164 BT Group plc
Annual Report 2015
7D[DWLRQFRQWLQXHG
actors aectin future ta chares
The rate of UK corporation tax changed from 21% to 20% on 1 April 2015. As deferred tax assets and liabilities are measured at the rates that are
expected to apply in the periods of the reversal, deferred tax balances at 31 March 2014 were calculated using a rate of 20%. This resulted in a tax
credit of 0 which was treated as a specific ite in the incoe stateent note  and a deferred ta epense of  in reserves for the ear
endin 1arch 01.
As all deferred tax balances were measured at 20% at 31 March 2014 and 31 March 2015, there was no further impact on deferred taxation for the
ear endin 1arch 01.
Unreconised ta losses and other teporar dierences
t 1 arch 01 the roup had operatin losses capital losses and other teporar dierences carried forward in respect of which no deferred
ta assets were reconised aountin to 1.0bn 011 1.bn. he roups capital losses and other teporar dierences have no epir
date restrictions. The expiry date of operating losses carried forward is dependent upon the tax law of the various territories in which the losses arose.
suar of epir dates for losses in respect of which restrictions appl is set out below
At 31 March
2015
£m
Expiry of
losses
5HVWULFWHGORVVHV
Europe 356 2016-2034
Americas 10 2024-2034
Other 73 2016-2023
7RWDOUHVWULFWHGORVVHV 439
Unrestricted losses
Operating losses 3,193 No expiry
Capital losses 17,150 No expiry
7RWDOXQUHVWULFWHGORVVHV 
2WKHUWHPSRUDU\GLƪHUHQFHV 195
7RWDO 7
At 31 March 2015 the undistributed earnings of non-UK subsidiaries were .1bn 011 .bn. o deferred ta liabilities have been
recognised in respect of these unremitted earnings because the group is in a position to control the timing of any dividends from subsidiaries and
hence any tax consequences that may arise.