The software group Palantir paid just £2M in corporation tax in the UK in 2024

Palantir paid just £2.1m in UK corporation tax in 2024 despite declaring profits of over £25m and holding hundreds of millions in public sector contracts, achieving an effective tax rate of only 8% compared to the statutory rate of 25%. The software company benefits from tax breaks and accounting practices that result in a global effective tax rate of just 1.4%, with the company paying no federal taxes in the US last year. Union leaders and researchers are calling for systemic changes to prevent tech giants from avoiding taxes while receiving substantial government contracts.