Hi P

wasn't one of the small print conditions on the bailout (of Lloyds and RBS) that they would not be able to carry forward the losses that they made (are still making) for tax purposes

No. It was going to be a condition of the APS scheme, but Lloyds ducked out of the scheme, and, if memory serves, when the goal posts moved for RBS the price came down big time to a minimum of £2.5 bn, if they wanted to get out early.

BTW, re your post about the tax credits etc, I haven't got the AUS/UK double tax treaty to hand, but normally you could expect to get some credit against Aussie tax for the dividend even though in the UK you cannot claim it back. I know I can here in France.

Regards

David