| Notes to the 6. TAXATION


Year ended 31 March 2011


Analysis of tax credit in the year/period Current tax (see note below) UK corporation tax credit on deficit for the year/period


Adjustments in respect of prior periods Total current tax


Deferred tax (see note 10) Origination and reversal of timing differences


Tax on deficit on ordinary activities Factors affecting tax charge for the year/period


The tax assessed for the year/period is lower than (2010 – lower than) the standard rate of corporation tax in the UK of 28% (2010 – 28%). The differences are explained below:


Year ended 31 March 2011


Deficit on ordinary activities before tax


Deficit on ordinary activities multiplied by standard rate of corporation tax in the UK of 28% (2010 28%)


Effects of: Non deductible expenses for tax purposes Capital allowances Marginal relief Adjustments to tax charge in respect of prior periods Current tax credit for the year/period (see note above) 73,389 (160,488) 19,291 608 (68,805) 100,574 (203,914) - (57,896) (762,896)


In common with similar organisations, the company is taxed according to HMRC's non-statutory arrangement for Trade Protection and similar associations.


14 Annual Report 2010-2011 (5,732) (1,605)


15 months ended


31 March 2010


££ (2,148,785) (601,660)


Financial Statementscontinued


15 months ended


31 March 2010


££


(69,413) 608 (68,805)


(705,000) (57,896) (762,896)


71,741 2,936


(53,794) (816,690)


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