Prime Minister Rishi Sunak has published his long-awaited UK tax documents covering the past four years.
The release, following a commitment first made by the Prime Minister during his Tory leadership run last summer, shows Sunak received an income from dividends of £172,415 in 2021/ 22 and £1.6 million from capital gains.
No 10 published “a summary” of Sunak’s UK taxable income, capital gains and tax paid as reported to HMRC, prepared by accountancy service Evelyn Partners.
Critics were quick to question the timing of the release, which came on a very busy news day in Westminster.
It coincided with the highly anticipated grilling of Sunak’s predecessor Boris Johnson by MPs over whether he misled the House of Commons with his denials about partygate.
It was also on the same day as the Commons voted on Sunak’s new deal on post-Brexit trading arrangements for Northern Ireland.
Labour deputy leader Angela Rayner tweeted: “Wonder why he’s chosen today?”
Figures revealed by Tax Justice UK show Sunak paid an effective tax rate of 22 per cent on his almost £2 million of income, the same tax rate (21 per cent) as the average nurse pays on their £37,000 salary.
Executive director, Robert Palmer, said: “Our tax system is set up to allow the super-wealthy people to pay low levels of tax. This is the way the tax system is designed.
“We need to fix the tax system by ensuring that the super-wealthy, such as the Prime Minister, are properly taxed. This would bring in much needed money for public services.”
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