Wednesday, 10 January 2018

Apple hands UK taxman £137m in 'adjustment' following HMRC audit

Apple has handed over an extra £137m to HM Revenue & Customs (HMRC) following a probe into its tax payments going back years.
Apple Europe - which handles the tech firm's UK marketing - said the taxman had carried out an "extensive audit" of its UK operations dating before 22 September 2015.
The filing, at Companies House, said: "This payment of additional tax and interest reflects the company's increased activity and is recognised in the current financial period which ended on 1 April 2017.

"As a result of this adjustment the Company's corporate income tax payments will increase going forward."

According to the Financial Times, HMRC argued that Apple Europe had not received a large enough commission on the sales it helped secure from Apple's main international business, which is based in Ireland.

BBC          News.

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