Barclays 2004 Annual Report Download - page 146

Notes to the accounts
For the year ended 31st December 2004
8 Tax (continued)
The tax charge for the year in 2004, 2003 and 2002 is lower than the standard rate of corporation tax in the UK (30%) (2003 and 2002: 30%).
The differences are set out below:
2004 2003 2002
£m £m £m
Tax charge at average United Kingdom corporation tax rate of 30% (2003: 30%, 2002: 30%) 1,381 1,153 961
Prior year adjustments (26) 7(9)
Effect of change in non-allowable general provisions 22(2)
Effect of non-allowable property write-downs and depreciation 20 13 12
Effect of Enterprise Zone Allowance –(205) –
Net effect of differing tax rates overseas (110) (95) (70)
Net effect of overseas losses not available for relief in the United Kingdom 24 (12) (40)
Other non-allowable expenses (5) (28) 8
Gains covered by capital losses brought forward (51) (44) (3)
Goodwill 71 74 69
Other items (104) 17 63
Current tax charge 1,202 882 989
Deferred tax charge 87 194 (34)
Overall tax charge 1,289 1,076 955
Effective tax rate % 28.0 28.0 29.8
9 Minority interests – Barclays PLC
Equity minority interests in the balance sheet amounting to £211m (2003: £283m) represent the interests of third parties in the equity shares
of the Group subsidiary undertakings.
Non-equity minority interests in the balance sheet comprise non-cumulative, callable euro-denominated preference shares issued by Barclays
Bank PLC of £688m (2003: £nil) and an additional £2m of profits attributable to these non-equity minority interests at the year end. Further
details of the rights of holders of preference shares are given in note (c) to the accounts of Barclays Bank PLC on page 234.
Total minority equity and non-equity interests as at 31st December 2004 were £901m (2003: £283m).
Minority interests in the profit and loss account include £44m (2003: £25m) in relation to equity minority interests and £2m (2003: £nil) in
relation to non-equity minority interests.
10 Dividends – Barclays PLC
2004 2003 2002
Dividends on ordinary shares £m £m £m
Interim 528 457 419
Final 1,010 883 787
1,538 1,340 1,206
(pence per share)
Interim 8.25 7.05 6.35
Final 15.75 13.45 12.00
24.00 20.50 18.35
Dividends amounting to £0.2m (2003: £0.2m, 2002: £0.2m) are payable on the staff shares, which carry a fixed dividend of 20% per annum unless
no dividend is paid for the year on the ordinary shares.
The total dividend of £1,538m stated in the Barclays PLC Group profit and loss account excludes £9m payable on shares held by employee benefit
trusts. The shares to which this adjustment relates are those where the full cost of the shares has not been expensed to the profit and loss
account at the end of the period to which the dividend relates. The total dividend of £1,547m is reflected in the Barclays PLC parent company
profit and loss account on page 138.
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