Aviva 2013 Annual Report Download - page 155

Strategic report Governance IFRS Financial statements Other information
Aviva plc
Annual report and accounts 2013
153
Notes to the consolidated financial statements continued
14 – Tax continued
(iii) The tax charge/(credit) can be analysed as follows:
2013
£m
Restated1
2012
£m
UK tax 76 (1)
Overseas tax 783 635
859 634
1 Restated for the adoption of revised IAS19. See note 1 for further details.
(iv) Unrecognised tax losses and temporary differences of previous years were used to reduce the current tax expense and deferred
tax expense by £3 million and £57 million (2012: £7 million and £11 million), respectively.
(v) Deferred tax charged/(credited) to the income statement represents movements on the following items:
2013
£m
Restated1
2012
£m
Long-term business technical provisions and other insurance items (24) (1,868)
Deferred acquisition costs (90) 254
Unrealised gains on investments 145 2,312
Pensions and other post-retirement obligations 6 12
Unused losses and tax credits 112 (30)
Subsidiaries, associates and
j
oint ventures (2) —
Intangibles and additional value of in-force long-term business (6) (12)
Provisions and other temporary differences (77) (670)
Deferred tax charged/(credited) to income statement from continuing operations 64 (2)
Deferred tax charged to income statement from discontinued operations 187 143
Total deferred tax charged to income statement 251 141
1 Restated for the adoption of revised IAS19. See note 1 for further details.
(b) Tax (credited)/charged to other comprehensive income
(i) The total tax credit comprises:
2013
£m
Restated1
2012
£m
Current tax from continuing operations
In respect of pensions and other post-retirement obligations (15) (28)
In respect of foreign exchange movements 6 (17)
(9) (45)
Deferred tax from continuing operations
In respect of pensions and other post-retirement obligations (110) (160)
In respect of fair value gains on owner-occupied properties — (1)
In respect of unrealised gains on investments 8 9
(102) (152)
Tax credited to other comprehensive income arising from continuing operations (111) (197)
Tax (credited)/charged to other comprehensive income arising from discontinued operations (169) 107
Total tax credited to other comprehensive income (280) (90)
1 Restated for the adoption of revised IAS19. See note 1 for further details.
(ii) The tax charge attributable to policyholders’ returns included above is £nil (2012: £nil).