Apple to pay £136 million in back taxes after UK audit

HMRC (Her Majesty's Revenue and Customs) has completed an "extensive audit" of Apple, and accounts show that the company has been hit with a £136 million ($184 million) back tax bill. There has been a great deal of interest in the tax arrangement of technology companies in the past couple of years, and the recent Paradise Papers revealed how Apple was structuring its finances. The latest payment in the UK comes after Apple agreed to settle a $15 billion bill in Ireland, and the company says its UK tax bill payments will increase in coming years. See also: Apple agrees… [Continue Reading]