Netflix paid less than £400,000 in UK corporation tax last year
This article portrays Netflix as a huge help in the UK economy. It has allowed audiences to stay entertained as they watch the latest series and films. Netflix revealed it made £36.5m revenue in the UK which suggests their authority in their market and that they may have got these outstanding numbers legitimately. The article also says there are no suggestions that Netflix that the business has broken the law because investigations were held. In the UK it is paying corporation taxes and VAT - spokesman for Netflix UK. Furthermore, the UK is believed to be the biggest market for Netflix outside of the US.
- Total of £2.5m spent on wages salaries social security and other pension costs
- Each employee received an average of £193,000
- Only 13 people employed for Netflix in the UK
I believe the numbers for Netflix will continue to grow as they are able to upload the latest series that people (globally) are addicted to. Profits will rise even more if there is more of a crackdown on the number of illegal websites that are current which allow people to stream the same shows and movies for free. Therefore, I believe the main competitors for the business would be these websites.
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