RBS 2006 Annual Report Download - page 147
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RBS Group • Annual Report and Accounts 2006
146
Notes on the accounts continued
Financial statements
4 Auditors’ remuneration
Amounts paid to the auditors for statutory audit and other services were as follows: Group
2006 2005
£m £m
Fees payable to the Group’s auditors for the audit of the Group’s annual accounts 0.8 0.6
Fees payable to the Group’s auditors and their associates for other services to the Group:
– The audit of the company’s subsidiaries pursuant to legislation 10.8 9.3
Total audit fees 11.6 9.9
– Other services pursuant to legislation (1) 5.9 3.3
– Other services relating to taxation 0.2 0.2
– Services relating to corporate finance transactions, including securitisations, entered into by the Group 2.4 4.9
– All other services (2) 2.6 6.0
Total non-audit fees 11.1 14.4
Fees payable to the Group’s auditors and their associates in respect of pension schemes:
– Audit 0.3 0.3
Total 23.0 24.6
Notes:
(1) Includes fees for work relating to Section 404 of the US Sarbanes-Oxley Act.
(2) Includes fees relating to the transition to IFRS in 2005.
5Tax Group
2006 2005 2004
£m £m £m
Current taxation:
Charge for the year 2,626 2,280 2,091
Over provision in respect of prior periods (253) (101) (168)
Relief for overseas taxation (147) (171) (212)
2,226 2,008 1,711
Deferred taxation:
Charge for the year 396 477 333
Under/(over) provision in respect of prior periods 67 (107) (49)
Tax charge for the year 2,689 2,378 1,995
The actual tax charge differs from the expected tax charge computed by applying the standard rate of UK corporation tax
of 30% as follows:
2006 2005 2004
£m £m £m
Expected tax charge 2,756 2,381 2,185
Interest on subordinated debt not allowable for tax 58 79 —
Non-deductible items 230 230 110
Non-taxable items (251) (166) (128)
Taxable foreign exchange movements 5 (10) (10)
Foreign profits taxed at other rates 63 77 49
Unutilised losses brought forward and carried forward 14 (5) 6
Adjustments in respect of prior periods (186) (208) (217)
Actual tax charge for the year 2,689 2,378 1,995