• Privacy policy
  • T&C’s
  • About Us
    • FAQ
  • Contact us
  • Guest Content
  • TLE
  • News
  • Politics
  • Opinion
    • Elevenses
  • Business
  • Food
  • Travel
  • Property
  • JOBS
  • All
    • All Entertainment
    • Film
    • Sport
    • Tech/Auto
    • Lifestyle
    • Lottery Results
      • Lotto
      • Set For Life
      • Thunderball
      • EuroMillions
No Result
View All Result
The London Economic
SUPPORT THE LONDON ECONOMIC
NEWSLETTER
The London Economic
No Result
View All Result
Home Politics

Labour calls on Rishi Sunak to explain wife’s non-dom tax status

Just days after the chancellor hiked NI, it is revealed his family may have been benefitting from tax reduction schemes.

Jack Peat by Jack Peat
2022-04-07 08:01
in Politics
FacebookTwitterLinkedinEmailWhatsapp

Rishi Sunak’s wife has defended her non-domicile status after it was claimed she could have saved millions by not paying UK tax on foreign income.

The Independent reported that Akshata Murty, who is believed to be worth hundreds of billions of pounds, held non-dom status.

This means her permanent home is considered outside of the UK and, although she is still liable for UK tax on income made in this country, she does not have to pay UK tax on foreign income unless it is brought into the UK.

“Tax hike after tax hike”

The newspaper claims the status could have saved the Chancellor’s wife millions of pounds in tax on foreign earnings, but a spokeswoman for Ms Murty said she has always paid UK taxes on her UK income.

The non-dom status is lawful and it is understood Ms Murty pays foreign taxes on her overseas income.

But Labour said: “The Chancellor has imposed tax hike after tax hike on the British people.

“It is staggering that, at the same time, his family may have been benefitting from tax reduction schemes.

“This is yet another example of the Tories thinking it is one rule for them, another for everyone else.

“Rishi Sunak must now urgently explain how much he and his family have saved on their own tax bill at the same time he was putting taxes up for millions of working families and choosing to leave them £2,620 a year worse off.”

RelatedPosts

EXCLUSIVE: Jeremy Corbyn to launch public inquiry into UK’s role in Gaza war this September

Donald Trump praises Starmer for fixing ‘sloppy’ Brexit

EXCLUSIVE: Unite organisers ‘seriously considering’ turning to Jeremy Corbyn’s party amid Labour fallout

Lib Dems call for Canadian PM to get state visit just before Trump’s

A spokeswoman for Ms Murty confirmed she held non-dom status and said: “Akshata Murty is a citizen of India, the country of her birth and parent’s home.

“India does not allow its citizens to hold the citizenship of another country simultaneously.

“So, according to British law, Ms Murty is treated as non-domiciled for UK tax purposes.

“She has always and will continue to pay UK taxes on all her UK income.”

Billionaire father

It is understood Mr Sunak declared his wife’s tax status when he became a minister in 2018, and the Treasury was also aware so that any potential conflicts could be managed.

Ms Murty is listed on LinkedIn as being director of capital and private equity firm Catamaran Ventures, gym chain Digme Fitness, and gentlemen’s outfitters New and Lingwood.

She is also reported to hold a 0.91% stake in Infosys, which was founded by her now billionaire father.

Related:

Tags: headlineRishi Sunak

Subscribe to our Newsletter

View our  Privacy Policy and Terms & Conditions

About Us

TheLondonEconomic.com – Open, accessible and accountable news, sport, culture and lifestyle.

Read more

SUPPORT

We do not charge or put articles behind a paywall. If you can, please show your appreciation for our free content by donating whatever you think is fair to help keep TLE growing and support real, independent, investigative journalism.

DONATE & SUPPORT

Contact

Editorial enquiries, please contact: [email protected]

Commercial enquiries, please contact: [email protected]

Address

The London Economic Newspaper Limited t/a TLE
Company number 09221879
International House,
24 Holborn Viaduct,
London EC1A 2BN,
United Kingdom

© The London Economic Newspaper Limited t/a TLE thelondoneconomic.com - All Rights Reserved. Privacy

No Result
View All Result
  • Home
  • News
  • Politics
  • Lottery Results
    • Lotto
    • Set For Life
    • Thunderball
    • EuroMillions
  • Business
  • Sport
  • Entertainment
  • Lifestyle
  • Food
  • Travel
  • JOBS
  • More…
    • Elevenses
    • Opinion
    • Property
    • Tech & Auto
  • About Us
    • Privacy policy
  • Contact us

© The London Economic Newspaper Limited t/a TLE thelondoneconomic.com - All Rights Reserved. Privacy

← Peers asked to raise their hands if they have faced police stop and search ← Today’s newspapers donimated by bombshell Sunak revelation
No Result
View All Result
  • Home
  • News
  • Politics
  • Lottery Results
    • Lotto
    • Set For Life
    • Thunderball
    • EuroMillions
  • Business
  • Sport
  • Entertainment
  • Lifestyle
  • Food
  • Travel
  • JOBS
  • More…
    • Elevenses
    • Opinion
    • Property
    • Tech & Auto
  • About Us
    • Privacy policy
  • Contact us

© The London Economic Newspaper Limited t/a TLE thelondoneconomic.com - All Rights Reserved. Privacy

-->