Vodafone 2001 Annual Report Download - page 46

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44
Vodafone Group Plc
Annual Report & Accounts
for the year ended
31 March 2001
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS continued
18 P rovision s for liabilities an d ch arges
Post
Deferred employment Other
taxation benefits provisions Total
£m £m £m £m
1 April 2000 105 27 61 193
Exchange movements 3 4 11 18
Acquisitions (note 22) 58 142 64 264
Profit and loss account 169 23 15 207
Utilised in the year _ (30) (15) (45)
Disposals _ (24) _ (24)
–––––––– –––––––– –––––––– ––––––––
31 March 2001 335 142 136 613
–––––––– –––––––– –––––––– ––––––––
Deferred taxation
The £245m charge in respect of deferred taxation in the profit and loss account (note 5) includes a charge of £76m in relation to
deferred tax assets.
The net deferred tax (asset)/liability is analysed as follows:
2001 2000
£m £m
Deferred tax on unvested options (169) (193)
Deferred tax on closure of derivative financial instruments (118) –
Deferred tax on sub-letting of US communications towers –(136)
Accelerated capital allowances 611
Other timing differences (net) 278 94
–––––––– ––––––––
(3) (224)
–––––––– ––––––––
Analysed as:
Deferred tax asset (note 12) (338) (329)
Deferred tax provision 335 105
–––––––– ––––––––
(3) (224)
–––––––– ––––––––
The amounts unprovided for deferred taxation are:
2001 2000
Amount Amount
unprovided unprovided
£m £m
Accelerated capital allowances 738 161
Gains subject to rollover relief 77
Other timing differences (601) (92)
–––––– ––––––
144 76
–––––– ––––––
The potential net tax benefit in respect of tax losses carried forward at 31 March 2001 was £14m in United Kingdom subsidiaries
(2000 – £16m) and £305m in international subsidiaries (2000 – £51m). These losses are only available for offset against future
profits arising from the same trade within these companies.
In addition, the Group’s share of losses of United Kingdom and international joint ventures that are available for offset against future
trading profits in these entities is £10m and £Nil, respectively (2000 – £Nil and £Nil). The Group’s share of losses of United Kingdom
and international associated undertakings that are available for offset against future trading profits in these entities is £Nil and £173m,
respectively (2000 – £Nil and £105m).
Oth er provision s
Other provisions primarily comprise amounts provided for legal claims.