2015
£000
2014
£000
Current tax — UK corporation tax2,146646
— overseas tax at prevailing local rates6,1856,097
— adjustment in respect of prior years257(910)
Total current tax expense8,5885,833
Deferred tax — origination and reversal of temporary differences(3,123)(2,428)
— adjustment in respect of prior years882(1,379)
Total deferred tax expense(2,241)(3,807)
Total income tax expense in the Consolidated Income Statement — continuing operations6,3472,026
Tax on discontinued operations396
Total income tax expense in the Consolidated Income Statement6,3472,422

The tax on the Group's profit before tax differs from the standard rate of UK corporation tax of 20.75% (2014: 22.50%). The differences are explained below:

2015
£000
2014
£000
Profit before taxation — continuing operations25,80621,442
Tax at 20.75% (2014: 22.50%)5,3554,824
Effect of:
— disallowable expenses43498
— income not taxable(387)
— innovation related tax credits(923)(832)
— differences on overseas tax rates587331
— adjustments in respect of prior years1,139(2,289)
— difference between current and deferred tax rates150
— change in tax rates(8)(106)
Total income tax expense — continuing operations6,3472,026
Tax on discontinued operations396
Total income tax expense in the Consolidated Income Statement6,3472,422

Tax Credit Recognised Directly in Equity

2015
£000
2014
£000
Deferred tax on effective portion of changes in fair value of cash flow hedges(4)29
Deferred tax on employee benefit obligations97
Tax recognised in Consolidated Statement of Comprehensive Income9329
Corporation tax on equity settled transactions157250
Deferred tax on equity settled transactions319(91)
Total tax recognised in equity569188

Reductions in the UK corporation tax rate from 23% to 21% (effective from 1 April 2014) and 20% (effective from 1 April 2015) were substantively enacted on 2 July 2013. In the Budget on 8 July 2015, the Chancellor announced additional planned reductions to 18% by 2020. This will reduce the company's future current tax charge accordingly. The UK deferred tax balances at 30 June 2015 have been calculated based on the rate of 20% substantively enacted at the balance sheet date.