 |
|
|
2008 |
2007 |
|---|---|---|
|
Due within 12 months |
8 |
– |
|
Due after 12 months |
– |
4 |
|
Income tax recoverable |
8 |
4 |
|
|
|
|
|
|
2008 |
2007 |
|
Due within 12 months |
118 |
427 |
|
Due after 12 months |
(113) |
(314) |
|
Income tax liabilities |
5 |
113 |
At 31 December 2008, a partial provision is held for an issue which Society has been discussing with HM Revenue & Customs, in relation to the application of certain tax legislation specific to life assurance companies for the years 1999 to 2006. The maximum exposure in relation to this issue is £230m plus interest of £85m. In the 2007 accounts, this issue was disclosed as a contingent liability.