Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Taxation (Tables)

v3.22.1
Taxation (Tables)
 12 Months Ended
Dec. 31, 2021
Disclosure of income tax [text block] [Abstract]  
Schedule of tax credit
    Year ended
December 31		     Year ended
December 31		     Year ended
December 31		  
    2021
£’000		     2020
£’000		     2019
£’000		  
                   
Current tax:                  
Adjustment in respect of prior years     190      
-
      
      -
  
                         
Deferred tax:                        
Origination and reversal of timing differences     (7,409 )     (969 )    
-
  
Adjustment in respect of prior years     191      
-
      
-
  
Effect of tax rate change on opening balance     1,324      
-
      
-
  
                         
Tax credit     (5,704 )     (969 )    
-
  

 
Schedule of tax credit
    Year ended
December 31		     Year ended
December 31		     Year ended
December 31		  
    2021
£’000		     2020
£’000		     2019
£’000		  
                   
Loss before tax from continuing operations     (549,213 )     (99,847 )     (17,964 )
                         
Current corporation tax rate of 19%     (104,350 )     (18,971 )     (3,413 )
Impact of difference in overseas tax rates     (3,146 )    
-
      
-
  
Expenses not deductible for tax purposes     55,356       1,238       64  
Adjustment in respect of previous periods     381      
-
      
-
  
Impact of rate change     1,402      
-
      
-
  
Deferred tax asset not recognized     69,563       17,733       3,349  
Utilization of deferred tax previously unrecognized     (23,862 )    
-
      
-
  
Difference between corporation tax and deferred tax rate     (423 )    
-
      
-
  
Benefit of tax incentives     (625 )    
-
      
-
  
Research and development claim – prior year    
-
       (969 )    
-
  
                         
Tax credit     (5,704 )     (969 )    
-
  

 
Schedule of deferred tax
    £’000  
       
Deferred tax assets        
Share-based payments     10,822  
IFRS conversion     67  
Short-term timing differences     119  
Losses     2,081  
Total deferred tax assets recognized     13,089  
         
Deferred tax liabilities        
Fixed asset temporary differences     (5,280 )
Intangible asset differences     (6,632 )
IFRS conversion / capital gains     (1,263 )
Total deferred tax liabilities     (13,175 )
         
Deferred tax liabilities, net     (86 )

 
Schedule of deferred tax liabilities
    £’000    
         
At January 1, 2021    
    -
    
           
Income tax recognized in the income statement     6,084  
Prior year adjustments     (191 )  
Business combinations     (13,404 )  
Equity     7,425  
           
At December 31, 2021     (86 )  
           
At December 31, 2020    
-
    
At December 31, 2019    
-