BTPLC Annual Report 2005 - Financial review

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Taxation

The tax charge for the 2005 financial year was £523 million and comprises £539 million on the profit before taxation, goodwill amortisation and exceptional items, offset by tax relief of £16 million on certain exceptional charges. The tax charge on the profit before taxation, goodwill amortisation and exceptional items is at an effective rate of 25.9%. This reduction in the effective rate from 28.2% in the 2004 financial year reflects the continued improvements in the tax efficiency of the group.
The tax charge for the 2004 financial year was £539 million and comprises £568 million on the profit before taxation, goodwill amortisation and exceptional items, offset by tax relief of £29 million on certain exceptional charges.
The tax charge for the 2003 financial year was £459 million and comprises £598 million on the profit before taxation, goodwill amortisation and exceptional items, offset by tax relief of £139 million on certain exceptional charges.

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