THE RETAIL BULLETIN - The home of retail news
Click here
Home Page
News Categories
Commentary
Department Stores
Electricals and Tech
Entertainment
Fashion
Food and Drink
General Merchandise
Grocery
Health and Beauty
Home and DIY
Interviews
People Matter
Retail Business Strategy
Property
Retail Solutions
Electricals & Technology
Sports and Leisure
Christmas Ads
Shopping Centres, High Streets & Retail Parks
Retail Events
People in Retail Awards 2024
Retail HR Summit
THE Retail Conference
Retail HR North 2025
Omnichannel Futures 2025
Retail HR Central 2025
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
Apple’s UK stores paid only £800k in tax

Apple’s retail division paid just £796,000 to HMRC in tax last year after making hefty payouts to employees through a stock option scheme. The company’s UK… View Article

GENERAL MERCHANDISE NEWS

Apple’s UK stores paid only £800k in tax

Apple’s retail division paid just £796,000 to HMRC in tax last year after making hefty payouts to employees through a stock option scheme.

The company’s UK retail arm, which spans 38 shops, made pre-tax profits of £38.2 million on sales of £971.5 million in the year to September 25. However, Apple minimised its tax bill by over £9m after an increase in the share price triggered a £30.3m share-based, tax-deductible payout to employees according to the Sunday Times.

As a result, the giant paid just £790,000 in tax for the year, despite an increase in sales across its UK store portfolio.

Richard Murphy, professor of accounting at Sheffield University’s management school, told The Times he believed that Apple had claimed the full available tax relief from the scheme, without properly accounting for all the related costs.

“We know the important role taxes play in society and always pay all that we owe everywhere we operate,” an Apple spokesperson commented.

“In addition to our tax payments, we are proud to be an engine of growth in the UK supporting more than 450,000 jobs across the country.”

Apple said it “always pays all that we owe everywhere we operate” and supports over 450,000 jobs in the UK.

Apple (UK), a subsidiary providing technical services to other parts of the Apple business, paid £7.1 million tax on profits of £50.7 million last year.

Apple Europe, a third subsidiary encompassing sales made online and through other retailers in the UK and across Europe, paid £102 million of tax on profits of £646 million.

The company extracted £559 million of dividends from its three UK-registered entities last year.

Subscribe For Retail News