Prime Minister Rishi Sunak paid more than half a million pounds in tax | Politics | News

February 9, 2024
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Prime Minister Rishi Sunak paid more than £500,000 in UK tax last year.

A summary of his tax return was published yesterday (Friday) that gave an insight into his personal wealth.

Mr Sunak made nearly £1.8 million through capital gains – up from £1.6 million in 2021/22 – as well as £293,407 in other interest and dividends.

All of the investment income and capital gains came from a US-based investment fund listed as a blind trust, according to the summary.

He also earned £139,477 from him ministerial and prime ministerial salaries, a sum that pales in comparison with his investment income.

Rather than a full tax return, No 10 published “a summary” of Mr Sunak’s UK taxable income, capital gains and tax paid over the last tax year as reported to HM Revenue & Customs, prepared by accountancy service Evelyn Partners.

The statement showed he paid £508,308 in tax in the financial year 2022-23.

Mr Sunak, a former California resident, separately paid 6,847 US dollars in tax from 45,646 US dollars of dividends that were taxed separately in the US in 2022.

The release of the documents means Mr Sunak becomes the first Prime Minister since David Cameron to publish his tax return.

The Foreign Secretary released a summary of his tax returns between 2009 to 2015 following a row over his personal finances when he was in No 10.

Theresa May published a tax summary during the Conservative leadership contest a few months later, but did not repeat the process once she entered No 10.

Boris Johnson released his tax details when he was Mayor of London but also declined to produce them in Downing Street.

The PM and his wife, Akshata Murty, are sitting on an estimated combined fortune of about £730 million.



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