Web giant Amazon paid £7.4m corporation tax in the UK in 2016

Internet giant Amazon saw a 50% fall in the amount of UK corporation tax it paid last year while it

Internet giant Amazon saw a 50% fall in the amount of UK corporation tax it paid last year while it saw a 54% increase in turnover in the same period. Picture: Chris Radburn/PA Wire - Credit: PA

Internet giant Amazon saw a 50% fall in the amount of UK corporation tax it paid last year while it saw a 54% increase in turnover in the same period.

Accounts filed by Amazon UK Services, which has a distribution centre in Norwich, show the company was billed £15.8m in 2015 compared with £7.4m in 2016.

In the same period, turnover at Amazon UK Services broke the £1bn barrier for the first time, climbing from £946m to £1.46bn while profit before tax fell from £48.5m to £24.2m.

The company's tax bill has been described by one MP as 'peanuts'.

Conservative Charlie Elphicke told The Sun: 'People will say it's high time Amazon paid their fair share.'

The company has said it meets all tax obligations in the UK and every other country in which it operates.