Uber stock set for Monday spotlight after UK ‘taxi tax’ workaround report
Uber shares closed up 1.41% at $82.86 Friday after a report said the company rewrote UK driver contracts outside London to reduce exposure to a new 20% VAT on minicab fares. The change shifts VAT liability to drivers, likely limiting fare increases outside London. The Treasury may now collect less than the projected £700 million a year from the measure. Traders await Uber’s next earnings in early February.