Skip navigation

Gloucestershire Business News

Retail giant Amazon paid just £220m UK tax in 2018

£220m might sounds like a lot of money, but when it's the amount paid in UK tax by the world's biggest online retailer, it doesn't sound quite so much.

Online retail giant Amazon paid £220m UK tax in 2018, as reported by Sky. It is the first time Amazon has revealed the full amount it has paid in taxes in the UK.

National Insurance contributions made up the largest proportion of the payment, followed by business rates, corporation tax and stamp duty. The company also said £573m was collected via indirect taxes as a result of UK business activities.

Amazon has revealed that total UK revenues were a staggering £10.89bn last year, but added that £625m was spent on updating warehouses and opening new offices.

Amazon said it invested £18bn in UK operations and capital expenditure between 2010 and 2018, and created 2,000 new jobs in 2019.

Punchline said: "It's good to see that Amazon is finally being open about the amount of tax it pays, but the figures still don't seem to add up. For a company that made nearly £11bn in the UK last year, tax of £220m seems like a drop in the ocean. High street retailers will never have a level playing field if Amazon is able to keep its costs so low."

Related Articles

EXCLUSIVE: Dowdeswell Estates and Gloucester City Council agree deal to redevelop The Fleece Hotel Image

EXCLUSIVE: Dowdeswell Estates and Gloucester City Council agree deal to redevelop The Fleece Hotel

Punchline can exclusively reveal that a "game changing" deal has been agreed to transform a Gloucester City centre landmark.

VIDEO: Take a tour of the historic Fleece Inn in Gloucester ahead of its redevelopment Image

VIDEO: Take a tour of the historic Fleece Inn in Gloucester ahead of its redevelopment

Punchline TV speaks to the key players in the redevelopment and takes a peak inside the historic building before it is redeveloped

Work starts on Cheltenham Quadrangle rooftop restaurant development  Image

Work starts on Cheltenham Quadrangle rooftop restaurant development

Transformation of landmark Cheltenham town centre building the Quadrangle has now begun, with contractors moving onto the site.

Historic house for sale - with Lord of the Manor title Image

Historic house for sale - with Lord of the Manor title

If you have aspirations to becoming a real life Lord of the Manor and fancy following in the footsteps of Royalty we could be able to help.

Copyright 2019 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.