EBay coughs up £7m more in tax

THE UK arm of auction website eBay has agreed to pay an extra £7million in backdated tax after a review by HMRC.

In 2016 it paid £1.6million in corporation tax on profits of £7.7million, and £5.2million on profits of £20million in 2017. Sales last year nearly trebled to £585million. The £7million payment covers tax liabilities for previous financial years. HMRC said it “has a very strong track record on challenging contrived tax arrangements”.

eBay said it complied with laws and rules of every country it worked in.