UK
Rishi Sunak releases details of his tax return showing he paid £432,493 in tax in 2021/2022
Rishi Sunak’s tax details have been released following months of political pressure, showing that he paid £432,493 in tax in 2021/22.
Much of the tax was paid on his capital gains earnings, which were more than £1.6m in that tax year.
The prime minister paid £325,826 in capital gains tax and £120,604 in UK income tax on income of £329,561.
The submission shows that Mr Sunak made £1.9m in the last tax year, with £172,415 coming in dividends and £1.6m in the capital gains.
There was speculation that Mr Sunak’s tax return could be controversial given that it was scheduled to be released at 4pm while the privileges committee investigation into whether Boris Johnson misled MPs over partygate was in full swing.
Mr Sunak came under pressure to publish his tax return after his financial affairs came under the spotlight during his failed leadership campaign against Liz Truss.
He first promised to release his tax return in November 2022.
Rishi Sunak’s tax return has been published following a freedom of information request
Boris Johnson hits out at committee chair after ‘hand on heart’ defence – live updates
It was revealed that his wife, Akshata Murthy, had claimed non-dom status – allowing her to avoid UK tax on her vast foreign income, derived from her father’s Indian firm, Infosys.
Following a significant backlash, Murthy then renounced her non-dom status and said she would pay UK tax on all her worldwide wealth to stop the issue from acting as a “distraction for her husband”.
There has also been the separate controversy over Nadhim Zahawi, who was sacked as Tory Party chairman in January after he failed to disclose millions of pounds in tax.
Rishi Sunak first promised to release his tax return in November 2022.
Read more:
Windsor Framework: Government wins Brexit deal vote – despite Tory rebellion and DUP anger
Rishi Sunak referred to independent adviser on ministers’ interests over his tax affairs, No 10 says
An ethics inquiry ordered by Mr Sunak found Mr Zahawi guilty of a “serious breach” of the ministerial code.
The MP for Stratford-upon-Avon said his actions were “careless” and not “deliberate”.
Mr Zahawi is believed to have paid a penalty as part of an estimated £4.8m settlement dispute with HMRC.
Following the publication of Mr Sunak’s tax details, Dan Neidle, the founder of Tax Policy Associates, tweeted that the prime minister’s submission was “not a tax return”.