Multiple outlets report that US-headquartered software company Palantir paid £2 million in corporation tax in the UK in 2024, despite holding UK public-sector contracts worth hundreds of millions of pounds. One report says Palantir’s UK contracting includes work connected to the NHS and the Ministry of Defence and that the company is benefiting from global systems and accounting approaches that can reduce tax liabilities in the jurisdictions where it wins contracts. Another outlet says Palantir holds about £670 million in UK contracts and highlights that the low UK tax payment follows an assessment that the company pays little tax outside the United States.
The reports also note Palantir’s rapid business growth during the same period, including sharp share price gains and a forecast from its chief executive for revenue to nearly double in 2024. While the sources describe the potential mechanisms behind the tax outcome and quote criticism from a union representative in one account, both generally agree on the key figures: the scale of UK contracts and the relatively small amount of UK corporation tax reported for 2024.
