Palantir's UK tax payment of £2 million in 2024 contrasts with its large public sector contracts
Executive summary: Palantir paid £2 million in UK corporation tax in 2024 while holding public sector contracts worth hundreds of millions of pounds. The low tax payment has drawn criticism from a union boss who said Palantir's accounting practices enable tax avoidance, raising concerns over the fairness of tax contributions from major public sector contractors.
Who is involved: Palantir, its UK public sector contract holders, and a union representative commenting on the company's tax practices.
Likely next: The Guardian article does not specify any announced upcoming steps by Palantir or UK tax authorities regarding the tax payment.
The Guardian reports that Palantir paid only £2 million in corporation tax in the United Kingdom for the fiscal year 2024, despite holding public sector contracts valued at hundreds of millions of pounds. A union boss said the company's global accounting structures enable tax avoidance, prompting criticism about fairness of tax contributions from firms with significant UK government work. The article does not disclose any specific forthcoming actions by Palantir or UK tax authorities.
Timeline
- — Palantir paid just £2m corporation tax in UK in 2024 despite lucrative public sector contracts (The Guardian — Business)
- — Europe’s Palantir problem (Politico Europe)
- — Palantir funnels earnings to US to avoid European taxes, report finds (Politico Europe)
- — Palantir Soars 27% and Caterpillar Helps Lift the Dow 800 Points (Yahoo Finance)
Analysis — what this means
Sectors affected
- Public sector IT contracting in the UK
Key entities
Sources
- Palantir paid just £2m corporation tax in UK in 2024 despite lucrative public sector contracts — The Guardian — Business
- Palantir funnels earnings to US to avoid European taxes, report finds — Politico Europe
- Europe’s Palantir problem — Politico Europe
- Palantir Soars 27% and Caterpillar Helps Lift the Dow 800 Points — Yahoo Finance
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