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Financial Profile

Report and Accounts

Please click on the below links for Unity Trust Bank’s Report & Accounts 2020 and Pillar 3 disclosures:

Please click on the below links for Unity Trust Bank’s Report & Accounts 2019 and Pillar 3 disclosures:



Taxation Transparency

Tax Conduct Statement

As a socially responsible bank, Unity Trust Bank seeks to be transparent in all that we do and matters of taxation are no different.

Unity Trust Bank’s annual report and accounts show a slightly lower rate of corporation tax than would be implied by the current headline tax rate. This is because Unity Trust Bank has benefited from Community Investment Tax Relief (CITR) and claimed for Research and Development (‘R&D’) expenditure.

The CITR scheme encourages investment in disadvantaged communities by giving tax relief to investors who back businesses and other enterprises in less advantaged areas by investing in accredited Community Development Finance Institutions (CDFIs). Unity Trust Bank has made such investments, because we believe in the benefits they provide to the communities in which they operate. The tax relief is worth up to 25% of the value of the investment in the CDFI. The relief is spread over five years, starting with the year in which the investment is made.

Unity Trust Bank has claimed SME R&D tax relief in relation to advancements in technology. Relief has been provided for qualifying expenditure incurred during the year as permitted. The relief can be claimed until there is a working prototype or activity ceases, and is received annually.

The tax relief we obtain is provided strictly in accordance with UK tax law and has been made available to encourage these activities.

Current tax reconciliation  2020
Profit before tax 7,546
Tax on profit at standard UK rate of 19% 1,433
Adjusting items:
Impact of capital allowances in excess of depreciation 7
IFRS 9 transitional adjustment (6)
AFS transitional adjustment (9)
Defined benefit pension adjustment 11
Community investment tax relief (559)
R&D expenditure (216)
Adjustment to tax charge in prior period (140)
Expenses not deductible for tax purposes 2
Other (20)
Current tax charge for the year 503
Effective current tax rate for the year 6.66%


Our trading address is Four Brindleyplace, Birmingham, B1 2JB.

Registered in England and Wales no. 1713124

Switching made simple

By switching your bank account to Unity you’ll be helping to create a better society.  You’ll also benefit from 24/7 access to your account using our Internet Banking service.

Our free account switcher service makes the process as easy as possible:

  • We’ll close your existing account for you.
  • We contact your existing bank for a list of your Direct Debit and Standing Order payments for the account you’re switching from.
  • You select the accounts you want us to move to us.

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How we make a difference

We are a bank established to serve the needs of our customers and enrich society as a whole.  We work with organisations that aim to have a positive impact on society through economic, community or social change.

Our people support charities and communities through our ‘Unity in the Community’ (UitC) programme.  The Unity team is actively involved in volunteering and fundraising events  organised throughout the year.  Good causes are nominated by our people to receive donations.

To find out more about how we make a difference, view our Impact Report 2020. 

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