Apple’s corporation tax payment in the UK surged nearly 62% last year to £304m, as its operating profits topped £1.2bn for the first time.
Accounts filed at Companies House show the American tech giant’s operating profits rose from £822m to £1.2bn for the year ended September 28, 2024, while revenues jumped 35% to £4.7bn.
The growth came alongside the launch of Apple’s iPhone 16 range as the firm met criticism over its slower progress on artificial intelligence.
Apple lost a landmark EU tax case last year, when Europe’s top court ordered the company to pay €13bn to Ireland in unpaid taxes related to profits from its Irish subsidiaries. Apple said the ruling was “trying to retroactively change the rules” and confirmed it “always pay[s] all the taxes we owe wherever we operate.”
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Apple’s global quarterly sales for the period ending March 29 topped $95.4bn, beating analysts’ forecasts.
Chief executive Tim Cook highlighted risks in the company’s complex supply chain and said the firm was making “significant investments” in AI, despite some delays in rolling out features such as an upgraded Siri.
Craig Federighi, senior vice-president of software engineering, said at the recent Apple Worldwide Developers Conference that the Siri upgrade “needed more time to reach our high quality bar” but that the company looked forward to sharing more in the coming year.
The group operates 40 stores across the UK and employs more than 7,700 people in locations including London, St Albans, Swindon and Cambridge.
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