BT 2001 Annual Report Download - page 90

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8. Interest receivable
2001
£m
2000
£m
1999
£m
Income from listed investments 30 13 9
Other interest receivable (a) 352 169 150
Group 382 182 159
Joint ventures 19 42
Associates 774
Total interest receivable 408 193 165
(a) Includes:
Exceptional credit for interest on rates refunds received in 2000, relating to prior years 25 ––
9. Interest payable
2001
£m
2000
£m
1999
£m
Interest payable and similar charges in respect of:
Bank loans and overdrafts 181 87 77
Other borrowings (a) 1,245 401 343
Group 1,426 488 420
Joint ventures 176 47 19
Associates 120 40 12
Total interest payable 1,722 575 451
(a) Includes £7 million premium charged in the year ended 31 March 1999 on the early redemption of US$200 million 9
5
ˇ/
8
% Guaranteed Debentures 2019 on
16 February 1999.
10. Tax on profit (loss) on ordinary activities
2001
£m
2000
£m
1999
£m
United Kingdom:
Corporation tax at 30% (2000 – 30%, 1999 – 31%) 690 852 1,200
Deferred taxation charge (credit) at 30% 27 (3) 71
Taxation on the group’s share of results of associates 631
Taxation on the group’s share of results of joint ventures 42 ––
Prior year adjustments (296) 4–
Total UK taxation 469 856 1,272
Non-UK taxation:
Current 24 514
Taxation charge on the group’s share of results of joint ventures 33 11 3
Taxation charge on the group’s share of results of associates 146 25 4
Prior year adjustments (20) ––
Total tax on profit (loss) on ordinary activities 652 897 1,293
In the year ended 31 March 2001, the loss on ordinary activities before taxation was »1,031 million, after charging »3,200 million
goodwill impairment, which is not an allowable expense for taxation. In the following table, the e¡ective corporation tax rate is
reconciled to the pro¢t of »2,169 million before this impairment charge.
Notes to the financial statements
90 BT Annual report and Form 20-F