Uber’s UK operations posted a revenue increase of £1.3bn in the latest financial year, rising from £5.2bn to £6.5bn, driven by higher taxi rides and Uber Eats orders. The mobility division saw revenue climb to £5.1bn, while delivery sales reached £1.3bn. The UK workforce grew from 427 to 512 employees.
Despite the surge in turnover, pre-tax profit fell by 26 per cent to £21.6m, primarily due to higher administrative costs in the delivery segment. The company warned that sustaining or increasing profitability in the UK will be challenging without raising revenue further and controlling expenditure.
The operating environment has also shifted following recent tax rulings. A Supreme Court decision confirmed that private-hire operators outside London are exempt from 20 per cent VAT on their profits, overturning a previous High Court ruling. The case involved rival operators Delta Taxis and platform Veezu and follows Uber’s earlier legal disputes over driver employment status and tax obligations.
Separately, Estonian ride-hailing and delivery platform Bolt successfully challenged HMRC over VAT application, though the authority has been granted permission to appeal.
