EasyJet 2013 Annual Report Download - page 110

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 easyJet plc Annual report and accounts 2013
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Notes to the accounts continued
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2012
£ million
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Deferred tax on fair value movements of cash flow hedges  (7)

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Current tax on share-based payments  1
Deferred tax on share-based payments  2
 3
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The net deferred tax liability in the statement of financial position is as follows:
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At 1 October 2012     
Credited to income statement     
Credited to other comprehensive income ± ±  ± 
Credited to shareholders’ equity ± ± ±  
$W6HSWHPEHU   ±  
Accelerated
capital
allowances
£ million
Short-term
timing
differences
£ million
Fair value
gains
£ million
Share-based
payments
£ million
Total
£ million
At 1 October 2011 120 39 23 (3) 179
Charged/(credited) to income statement 26 (9) (1) (2) 14
Charged to other comprehensive income – – 7 – 7
Credited to shareholders’ equity – – – (2) (2)
$W6HSWHPEHU 146 30 29 (7) 198
It is estimated that deferred tax assets of approximately £18 million (2012: deferred tax liabilities of£11 million) will reverse
during the next financial year.
Deferred tax assets and liabilities have been offset where they relate to taxes levied by the same taxation authority.
As a result the net UK deferred tax liability is £152 million (2012: £212 million). The net overseas deferred tax asset
is £8 million (2012: £14 million).
No deferred tax liability has been recognised on the unremitted earnings of overseas subsidiaries as no tax is expected
to be payable in the foreseeable future based on the current repatriation policy of easyJet.
108 easyJet plc Annual report and accounts 2013