Santander UK (SANS+) 6-K Current report (foreign)

Exhibit 7.1

Santander UK plc

Computation of Ratio of Earnings to Fixed Charges

(i) Excluding interest on retail deposits

	Six months ended 30 June
	2014 £m		2013 £m
Profit on continuing operations before tax		545		461
Fixed charges: interest expense (B) (1)		627		750
Earnings before taxes and fixed charges (A)		1,172		1,211
Ratio of earnings to fixed charges (A/B)		187		161

(ii) Including interest on retail deposits

	Six months ended 30 June
	2014 £m		2013 £m
Profit on continuing operations before tax		545		461
Fixed charges: interest expense (B) (1)		1,748		2,233
Earnings before taxes and fixed charges (A)		2,293		2,694
Ratio of earnings to fixed charges (A/B)		131		121

Note:

⁽¹⁾  Includes the amortisation of discounts and premiums on debt securities in issue.