Financial statements
Strategic report
Governance
120 OCU Group Annual report and financial statements 2026
Notes to the consolidated financial statements continued for the year ended 30 April 2026
8. Auditor’s remuneration
11. Taxation Analysis of the tax charge The tax charge on the loss for the year was as follows:
2026 £000
2025 £000
Fees payable to the Group's and Company's auditor and their associates for the audit of the Group's and Company's financial statements
2026 £000
2025 £000
813
635
Current tax: UK corporation tax
46
Auditor’s remuneration for non-audit work
30
16,249 (4,637) 11,612
6,476
Total fees payable
859
665
Adjustments in respect of previous periods
(1,019)
Total current tax
5,457
9. Interest receivable and similar income
Deferred tax: Origination and reversal of timing differences Adjustments in respect of previous periods
2026 £000
2025 £000
268
904 810
(44)
2,101 3,133 5,234
Deposit account interest
854
224
1,714 7,171
Fair value gain on derivatives
6,871
Tax on loss
11,836
7,725
Reconciliation of total tax charge included in profit and loss The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:
10. Interest payable and similar expenses
2026 £000
2025 £000
2026 £000
2025 £000
62,365
Interest arising on loans
63,829
(20,095)
Loss before tax
(63,619)
487
Unwinding of discount on deferred and contingent consideration
406
Loss multiplied by the standard rate of corporation tax in the UK of 25% (2025: 25%)
4,297 1,901 1,355
Unwinding of discount on option liabilities
—
(5,024)
(15,905)
Interest on finance lease and hire purchase contracts
956
Effects of: Expenses not deductible for tax purposes Income not deductible for tax purposes
Interest arising on preference shares
—
22,740
22,690
7,204
Exchange loss on foreign currency borrowing
8,355
—
(291)
817
Other finance costs
3,382
(74)
Fixed asset differences
113
1,442
Exceptional items (note 7)
22,502
(124)
Research and development expenditure credits
(20)
79,868
99,430
—
Chargeable gains
273
(4,681)
Adjustments to tax charge in respect of previous periods
(209)
(238) (763)
Difference in tax rates
—
Recognition of deferred tax previously not recognised
520
Total tax charge
11,836
7,171
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