Combined profits of £10.4m ($13.15m) on three of WeWork’s biggest locations in London last year attracted zero tax due to losses in other parts of the business being offset. Filings with the UK ’s Companies House show that the company paid no corporation tax. The three properties have a combined capacity of more than 7,000 desks.
Combined profits of £10.4m ($13.15m) on three of WeWork’s biggest locations in London last year attracted zero tax due to losses in other parts of the business being offset. Filings with the UK’s Companies House revealed that the firm's buildings in Moorgate, Paddington and Farringdon generated revenues of £59.2m in 2018 and both profits and revenues grew strongly YoY. The UK is WeWork’s largest overseas market and generated revenues of $275.6m in 2018, according to the company’s IPO filing. The three properties have a combined capacity of more than 7,000 desks.