Amazon pays £1.7m company tax within the UK (News)

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Amazon worker

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A employee at Amazon’s success centre in Peterborough

Amazon incurred simply £4.6m in UK company tax final yr, down from £7.4m in 2016, its accounts reveal.

And the figures for Amazon UK Companies Restricted present the web retail large paid simply £1.7m in tax after deferring £2.9m.

Its UK operations made an working revenue of just about £80m, up from £48m in 2016.

An Amazon UK spokesman mentioned it paid all of the tax it was required to “within the UK and each nation the place we function”.

“Company tax is predicated on income, not revenues, and our income have remained low given retail is a extremely aggressive, low-margin enterprise and our continued heavy funding,” he informed the Guardian.

The figures come simply days after Amazon internationally reported document quarterly income of $2.53bn (£1.9bn) for the three months to 30 June.

The revenue was about 12 occasions greater than Jeff Bezos’s firm made throughout the identical interval final yr and mirrored rising gross sales and demand for its cloud providers.

Amazon UK Companies is the division which runs the fulfilment centres which course of, package deal and put up deliveries to UK clients.

It employs greater than two-thirds of the 27,000-strong UK workforce.

Turnover for Amazon within the UK jumped from £1.43bn to just about £2bn because the Seattle-based large attracted extra clients to its on-line buying and leisure choices.

Share-based funds for employees rose from slightly below £37m in 2016 to nearly £55m final yr – which contributed to the decrease tax invoice.

Amazon experiences its revenues from UK gross sales by a separate firm based mostly in Luxembourg.

The £1.98bn determine is a cost reported by Amazon Companies UK to the father or mother firm for the price of making deliveries to clients.

In keeping with its US filings, UK income rose nearly a fifth to $11.3bn final yr.

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