ANNEX U.K. INTERNATIONAL ACCOUNTING STANDARDS

INTERNATIONAL ACCOUNTING STANDARD 12 Income taxes

DISCLOSURE U.K.

84 The disclosures required by paragraph 81(c) enable users of financial statements to understand whether the relationship between tax expense (income) and accounting profit is unusual and to understand the significant factors that could affect that relationship in the future. The relationship between tax expense (income) and accounting profit may be affected by such factors as revenue that is exempt from taxation, expenses that are not deductible in determining taxable profit (tax loss), the effect of tax losses and the effect of foreign tax rates. U.K.