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Apple’s UK tax bill jumps to £304m as profits pass £1bn milestone
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. 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.
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