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Tuesday, December 15, 2015

Starbucks pays £8m in tax as profits surge

Pre-tax profits jumped to £34.2m in the year to 27 September, compared with less than £2m the previous year. 
Sales grew by 3.8% after the company invested heavily in turning the business around.

The UK arm of the world's biggest coffee chain said in 2012 it would pay significantly more in tax after a public outcry at how little it paid.

Prior to 2012, the company paid just £8.6m in corporation tax in its 14 years of trading in the UK, despite sales worth billions of pounds. In 2011, for example, the company recorded sales of almost £400m.

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