Notes to the consolidated financial statements
- « 12 Impairment
- 13 Profit on sale of businesses
- 14 Taxation »
13 Profit on sale of businesses
|
2008 |
2007 |
|
|---|---|---|
|
Profit on sale of Lloyds TSB Registrars |
– |
407 |
|
Profit on sale of Abbey Life |
– |
272 |
|
Other, including adjustments in respect of businesses sold in earlier years |
– |
(22) |
|
Profit on sale of businesses |
– |
657 |
During 2007 the Group completed the sale of the business and assets of Lloyds TSB Bank plc’s company registration business, Lloyds TSB Registrars; the sale of Abbey Life Assurance Company Limited, a UK life operation which had been closed to new business since 2000; and the sale of The Dutton-Forshaw Group Limited, a medium-size car dealership. In addition, provision was made for payments under an indemnity given in relation to a business sold in an earlier year. The businesses sold in 2007 did not represent separate material lines of business and consequently they were not treated as discontinued operations.