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  pearson annual report 2000    

Notes to the Accounts

   
 

8. Taxation

all figures in millions 2000 1999
restated



UK    
Corporation tax for the period 40 116
Adjustments in respect of prior periods (13) (11)



  27 105
Double taxation (1) (1)



  26 104
Deferred taxation (see note (1) 6
Joint ventures (6)
Associates 6 9
Overseas    
Overseas taxation for the period 70 52
Deferred taxation (3)
Associates 14 6



  106 177



 

all figures in percentages 2000 1999
restated



Tax rate reconciliation    
UK 30.0 30.2
Effect of overseas tax rates 2.2 3.0
Effect of utilisation of tax losses in the US (7.8) (9.8)
Other items (1.4) 1.6



Tax rate reflected in adjusted earnings (before internet enterprises) 23.0 25.0
Effect of internet enterprises 3.1



Tax rate reflected in adjusted earnings (after internet enterprises) 26.1 25.0
Effect of profits/(losses) excluded from adjusted earnings 11.2 12.1



Tax rate reflected in earnings 37.3 37.1



note The Group has significant tax losses available in the US which are not recognised in the accounts and hence the tax rate reflected in adjusted earnings is lower than the UK tax rate.

2000 Annual Report
* Introduction
* Chairman's letter
* Chief executive's review
* The Pearson Goals
* Internet Enterprises
* The Results
* Pearson Education
* The Penguin Group
* The Financial Times Group
* Recoletos
* Financial Review
* The Board
* Directors' Report
* Personnel Committee Report
* Consolidated profit and loss account
* Consolidated balance sheet
* Consolidated statement of cash flows
* Statement of total recognised gains and losses
* Reconciliation of movements in equity shareholders' funds
* Report to the Auditors to the Members of Pearson plc
* Principal subsidiaries and associates
* Five year summary
* Corporate and Operating Measures
* Shareholder information
* Notes to the accounts
 

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