Virgin Media 2009 Annual Report Download - page 201

VIRGIN MEDIA INVESTMENT HOLDINGS LIMITED AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
Note 13—Income Taxes
The benefit (expense) for income taxes consists of the following (in millions):
Year ended
December 31,
2009 2008 2007
Current:
U.K. taxes ..................................... £4.9 £4.7 £ 4.9
Total current .................................... 4.9 4.7 4.9
Deferred:
U.K. taxes ..................................... — 3.4 —
U.S. taxes ..................................... (3.8) 1.8 (5.5)
Total deferred .................................... (3.8) 5.2 (5.5)
Total .......................................... £1.1 £9.9 £(0.6)
There are significant current year losses in the U.K. The current tax benefit relates to amounts
receivable in respect of the sale of U.K. tax losses to an equity method investee. The federal deferred
tax expense relates to holding an equity method investment. The foreign deferred tax benefit relates to
the decrease in our deferred tax asset valuation allowance resulting from the recording of certain
deferred tax liabilities related to amounts recognized in the statement of other comprehensive income
during the year that are expected to reverse in future periods and will allow us to offset such amounts
against certain deferred tax assets.
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