Operating Profit from Continuing Operations
 Review of Results
 Summarised Consolidated Profit and Loss Account – Achieved Profits Basis
 Earnings per Share – Achieved Profits Basis
 Statement of Total Recognised Gains and Losses – Achieved Profits Basis
 Summarised Consolidated Balance Sheet – Achieved Profits Basis
 Reconciliation of Movement in Shareholders’ Capital and Reserves – Achieved Profits Basis
Notes on the Achieved Profits Basis Supplementary Information
 1 Basis of Preparation
 2 Assumptions
 3 Discount Rates
 4 Investment Return
5 Tax
 6 Foreign Currency Translation
 7 Cost of Capital
 The Achieved Profits Basis of Financial Reporting
 Report of the Auditors on the Achieved Profits Basis Supplementary Information

 

 

 

 

5 Tax

The profit for the year is in most cases calculated initially at the post-tax level. The post-tax profit is then grossed up for presentation purposes at the effective rates of tax applicable to the countries and periods concerned. For UK operations the effective rate has been taken as the full rate of Corporation Tax for the year concerned. For Jackson National Life the profit is calculated at the pre-tax level and the effective tax rate is that expected to be applicable on average over the remaining lifetime of the policies.

 

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