Facebook pays £4,000 tax bill in UK

Facebook’s financial statements have revealed it only paid £4,327 in tax for 2014.

The statements, published by the Companies House on Friday, revealed the social-networking giant had a turnover of £104.95m and a gross profit of £103.09m in the UK.

However that profit was eliminated due to £131.56m of administrative expenses, leading to the company reporting a loss before tax of £28.46m.

It had a total tax burden of just £4,327, compared to its £182,027 tax credit in 2013.

Globally, Facebook reported in January fourth-quarter profits of $701m, with total profits for 2014 of $2.9bn.