The UK operation of the Chinese online marketplace Temu doubled revenues and pre-tax profits last year, as British consumers snapped up products offered by the super-budget retailer. Temu UK reported revenues of $63.3m (£46.4m) last year, almost double the $32m in 2023, while pre-tax profits similarly surged from $2m to $3.9m, accounts show. Because of Temu’s small pre-tax profit, the company paid just $985,000 in UK corporation tax, up from $517,000 in 2023. The company’s UK operation reports its income as a “service fee”, similar to how Amazon UK and Google UK operate, and says it generates revenues “through the provision of corporate support services to its affiliated entities”. UK retailers have said this rule gives companies such as Temu and Shein an unfair advantage.