The California-based tech giant, which is reportedly preparing for a $25bn (£21bn) stock market float on Wall Street, said the UK was “a great place to build a global business”.
Its decision sets it apart from the likes of Apple, Google, Facebook and others who have chosen countries such as Ireland for a base in Europe, taking advantage of lower tax regimes.
This announcement of reallocation means that revenues from sales in the UK and in countries where Snapchat has “no local entity or salesforce” will be booked through the UK.
Snap currently has more than 75 staff in the UK, with an office in London’s Soho and an additional site nearby to open soon and with this development is expected to have more jobs opened for people.
Snapchat, which lets users send photos and short videos which expire within seconds, makes its money from advertising. and has over 150 million active global users with over 50 million from Europe.