Beaverbrooks pays more corporation tax than Amazon in the UK

BEAVERBROOKS MCENTRE-35

Beaverbrooks paid more in corporation tax in their most recently reported financial year than the Amazon in the UK.

Amazon UK Services, a business with a recorded turnover in 2016 of £1.5 billion in the UK, paid tax on profit on ordinary activities of £1.34 million.

Beaverbrooks, which notched sales of £119 million in the 12 months ending February 27, 2016, paid tax on profit on ordinary activities of £1.85 million.

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Beaverbrooks also made contributions to charity totalling £516,000 in its 2015-14 financial year.

Amazon says it pays all UK taxes required. A spokesperson states that corporation tax is based on profits, not revenues, and our profits have remained low, given retail a is highly competitive, low margin business and our continued heavy investment.

If you think that multi-nationals all employ creative accountancy practices to minimise corporation tax in the UK, think again.

Ernest Jones and H.Samuel, both owned by US giant Signet Jewelers, paid £6.8 million in tax on profit on ordinary activities in their most recently reported financial year ended January 30, 2016. That is five times more than Amazon paid in 2016.

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