Apple’s UK tax bill hits £300m as operating profits clear £1.2bn

Apple has revealed that it paid £304m in corporation tax in the UK for the year ended 28 September 2024, an increase of 62%, as its operating profits cleared £1.2bn for the first time.

In accounts filed with Companies House, the technology giant revealed that its operating profit increased from £822m up to £1.2bn, while its revenues increased 35% to £4.7bn.

Alongside this, Apple’s global quarterly sales topped $95.4bn (£70.2bn) for the period ended 29 March 2025.

This increase in profits and revenues came despite criticism over its slower adoption of artificial intelligence alongside the launch of the iPhone 16.

Last year, Apple was ordered to pay €13m (£11.2m) of unpaid taxes in Ireland after losing a landmark tax case in one of the EU’s top courts related to profits from its Irish subsidiaries.

The company claimed the ruling was “trying to retroactively change the rules” and confirmed it “always pay[s] all the taxes we owe wherever we operate.”

CEO Tim Cook stated that there were risks in the company’s complex supply chain and said the company was making “significant investments” in AI, despite the aforementioned 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.

Apple currently operates 40 stores across the UK and employs over 7,700 people across locations such as London, St Albans, Swindon and Cambridge.