Experian 2007 Annual Report Download - page 127

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D. Net interest income 2007
£m
Interest income:
External interest income 0.3
Interest on amounts owed by subsidiary undertakings 8.0
Unwind of discount on amount owed by subsidiary undertaking 0.7
9.0
Interest expense:
Interest on amounts owed to subsidiary undertakings (0.3)
Net interest 8.7
E. Tax on loss on ordinary activities
(i) Tax charge for the period
There was no tax charge for the period. The applicable rate of Corporation tax in Ireland is 25% for investment income (12.5% for trading income).
The differences are explained below:
2007
£m
Loss on ordinary activities before taxation (4.2)
Loss on ordinary activities before tax multiplied by the applicable rate of Corporation tax in Ireland of 25% (12.5% for trading income) (1.1)
Effects of:
Income not taxable (0.1)
Expenses not deductible 1.2
Current tax charge for the period –
(ii) Factors that may affect future tax charges
In the forseeable future, the Company’s tax charge will continue to be influenced by the nature of its income and expenditure in subsequent
accounting periods, and could be affected by changes in tax law.
(iii) Tax effect of exceptional items
The exceptional items included within the Company’sexpenses arenot deductible for tax purposes.
Experian Annual Report2007 |125