Company: BCS
Filing Date: 2025-02-13
Form Type: 20-F
Source: 0000312069-25-000114
Chunk: 554

Company: BARCLAYS PLC
Filing Date: 2025-02-13
Form: 20-F
Chunk 554
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 |  2023 |
|                                                             |    £m |    £m |
| UK Tax Group                                                | 4,451 | 4,081 |
| US Intermediate Holding Company Tax Group ('IHC Tax Group') | 1,162 |   973 |
| Barclays Bank PLC's US Branch Tax Group                     |   270 |   386 |
| Other (outside the UK and US tax groups)                    |   438 |   520 |
| Deferred tax asset                                          | 6,321 | 5,960 |
| Deferred tax liability                                      |   -18 |   -22 |
| Net deferred tax                                            | 6,303 | 5,938 |

UK Tax Group deferred tax asset The deferred tax asset in the UK Tax Group of £ 4,451 m ( 2023 : £ 4,081 m) includes £ 1,385 m ( 2023 : £ 1,566 m) relating to tax losses, with the balance relating to temporary differences. There is no time limit on utilisation of UK tax losses and business profit forecasts indicate that these losses will be fully recovered. US deferred tax assets in the IHC and US Branch Tax Groups The deferred tax asset in the IHC Tax Group of £ 1,162 m ( 2023 : £ 973m ) includes £ 38 m ( 2023 : £ 35m ) relating to tax losses, with the balance relating to temporary differences. The deferred tax asset in Barclays Bank PLC’s US Branch Tax Group of £ 270 m ( 2023 : £ 386 m) relates entirely to temporary differences. In relation to the IHC Tax Group, these temporary differences include £ 365 m ( 2023 : £ 387m ) arising from New York State and City prior net operating loss conversion which can be carried forward and will expire in 2034. Business profit forecasts indicate that these amounts will be utilised prior to expiry. Other deferred tax assets (outside the UK and US tax groups) The deferred tax asset of £ 438 m ( 2023 : £ 520 m) in other entities within the Group includes £ 111 m ( 2023 : £ 147 m) relating to tax losses. These deferred tax assets relate to a number of different territories and their recognition is based on profit forecasts or local country law which indicate that it is probable that those deferred tax assets will be fully recovered. Of the deferred tax asset of £ 438 m ( 202