Uber settles VAT claim with HMRC and posts better than expected results

Uber settles VAT claim with HMRC and posts better than expected results

US-based company hands over £615m to UK tax authorities after previously claiming it was exempt from VAT

Uber is handing £615m to UK tax authorities to settle an investigation into unpaid VAT, as it reported better than expected results, sending its shares higher.

The San Francisco-based ride hire and food delivery company said it achieved a UK tax settlement on Monday to resolve all outstanding VAT claims and would pay £615m to HM Revenue and Customs during the fourth quarter.

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