Notes to the Accounts
8. Taxation
| all figures in £ millions | 2000 | 1999 restated |
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| UK | ||
| Corporation tax for the period | 40 | 116 |
| Adjustments in respect of prior periods | (13) | (11) |
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| 27 | 105 | |
| Double taxation | (1) | (1) |
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| 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 |
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| 106 | 177 | |
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| all figures in percentages | 2000 | 1999 restated |
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| 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 |
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| Tax rate reflected in adjusted earnings (before internet enterprises) | 23.0 | 25.0 |
| Effect of internet enterprises | 3.1 | – |
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| 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 |
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| Tax rate reflected in earnings | 37.3 | 37.1 |
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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.
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