Report and Accounts
Please click on the below links for Unity Trust Bank’s Report & Accounts 2019 and Pillar 3 disclosures:
Please click on the below links for Unity Trust Bank’s Report & Accounts 2018 and Pillar 3 disclosures:
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).
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. 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 Banks invests in CDFIs because we believe in the benefits they provide to the communities in which they operate. That tax relief we obtain is provided strictly in accordance with UK tax law and has been made available to encourage this activity.
|Current tax reconciliation||2019|
|Profit before tax||9,076|
|Tax on profit at standard UK rate of 19%||1,724|
|Adjustments to tax charge in respect of prior periods||(198)|
|Expenses not deductible for tax purposes||8|
|Tax rate changes||(1)|
|Community Investment Tax Relief||(390)|
|Current tax charge for the year||1,095|
|Effective current tax rate for the year||12.07%|
Our trading address is Four Brindleyplace, Birmingham, B1 2JB.
Registered in England and Wales no. 1713124