UK lost out on £2bn in tax in 2021 as big tech shifted profits abroad, claim campaigners

TaxWatch analysis estimates British arms of seven major tech firms paid 750m in corporation tax instead of possible 2.8bn

The UK might have missed out on as much as 2bn in tax in 2021 from big tech companies shifting their profits elsewhere, according to an estimate by a group campaigning for greater tax transparency.

Seven of the biggest US-headquartered tech companies, including Apple, Microsoft and Google owner Alphabet, are estimated to have paid 750m in UK corporation tax and the digital sales tax, compared with 2.8bn in estimated tax due had profits not been routed elsewhere, according to TaxWatch, a campaign group.