8. Taxation
| 2009 | 2008 | |
| €'000 | €'000 | |
| Current tax | ||
| Corporation tax at 12.5% (2008: 12.5%) | 1,823 | 2,483 |
| Less: Woodlands relief | (1,822) | (1,659) |
| 1 | 824 | |
| Foreign tax - Netherlands | 2 | 1 |
| - United Kingdom | - | 42 |
| Adjustment in respect of prior years | (760) | - |
| Taxation on disposal of fixed assets at 25% (2008: 20-22%) | 4,773 | 2,473 |
| Total current tax | 4,016 | 3,340 |
| Deferred tax: | ||
| Origination and reversal of pension timing differences | (21) | (5) |
| Origination and reversal of other timing differences | (722) | (936) |
| Total taxation on profit on ordinary activities | 3,273 | 2,399 |
| The tax assessed for the period is higher than the standard rate of corporation tax in the Republic of Ireland. | ||
| The differences are explained below: | ||
| Profit on ordinary activities before tax | 7,516 | 11,605 |
| Profit on ordinary activities multiplied by the standard rate of tax in the Republic of Ireland of 12.5% (2008: 12.5%) |
940 | 1,451 |
| Effects of: | ||
| Woodlands relief | (1,822) | (1,659) |
| Impairment of assets and associated goodwill | 388 | 1,036 |
| Expenses not deductible for tax purposes | 958 | 528 |
| Differences between capital allowances and depreciation | 380 | 642 |
| Adjustments in respect of prior years | (760) | (1,658) |
| Higher rates of tax on certain activities | 2,505 | 2,579 |
| Loss relief utilised | 1,784 | 378 |
| Group relief | (300) | - |
| Foreign tax | 2 | 43 |
| Other | (59) | - |
| Total current tax | 4,016 | 3,340 |
No asset has been recognised for deferred tax of €5,260,000 (2008: €4,538,000) arising on the losses carried forward in one of the Group companies. In view of the current trading environment it was not considered prudent to recognise the asset at this stage.