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6 Tax on profit on ordinary activities

2010 2009
Analysis of tax charge £m £m

Corporation tax – current year 56.6 48.3
Corporation tax – prior years (9.9) (11.9)

Total current tax charge 46.7 36.4
Deferred tax – current year (2.1) 6.5
Deferred tax – prior years 4.2 5.2

48.8 48.1

2010 2009
Tax credited to equity £m £m

Deferred tax on pension liability (22.3) (78.5)
Current tax on pension liability (22.6) –

(44.9) (78.5)

The tax charge for the period is higher (2009: lower) than the standard corporation tax rate
of 28.0% (2009: 28.33%). The differences are explained below:

2010 2009
£m £m

Profit before tax 155.3 281.6

Profit before tax multiplied by standard rate of corporation tax
in the UK of 28% (2009: 28.33%) 43.5 79.8
Effects of:
Adjustment to current tax in respect of prior years (9.9) (11.9)
Depreciation on assets not qualifying for tax relief 12.7 10.9
Difference between accounting and tax base for land and buildings (2.6) (1.9)
Non-taxable gain on disposal of associate – (36.1)
Adjustment to deferred tax in respect of prior years 4.2 5.2
Sundry disallowables 0.9 2.1

Total tax charge 48.8 48.1


7 Profit and loss for the financial year

As permitted by Section 408 of the Companies Act 2006, John Lewis Partnership plc has not presented its own profit and loss account. The result dealt with in the accounts of the company amounted to £0.1m loss (2009: £0.4m profit).
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