Apple paid less than 2% tax on its overseas profits, documents have revealed, after the technology giant slashed the amount foreign taxmen receive.

The iPad and iPhone creator paid $713bn (£445m) in corporation tax outside the US in the year to September 29 - despite foreign pre-tax earnings soaring more than 50% to$36.8bn (£23bn).

Papers filed with US regulators revealed Apple's overseas tax rate fell to 1.9%, compared to 2.5% the previous year amid a headline corporation tax rate in the UK of 24% and 35% in the US.