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Sunak paid half a million pounds in tax last year, according to his tax returns

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Published Time: 09.02.2024 - 20:40:31 Modified Time: 09.02.2024 - 20:40:31

Rishi Sunak has published his tax documents, showing that he paid more than £500,000 in UK tax last year

Rishi Sunak has published his tax documents, showing that he paid more than £500,000 in UK tax last year.

Political reporter @fayebrownSky

Friday 9 February 2024 17:38, UK

Rishi Sunak has published his personal tax return, showing he paid more than half a million pounds in UK tax last year.

The summary of the prime minister's tax affairs was slipped out on Friday afternoon as parliament was in recess.

The document shows he paid a tax bill of £508,308 in the financial year 2022-23around £75,000 more than what he paid in the previous year.

Mr Sunak made nearly £1.8 million through capital gainsup from £1.6 million in 2021/22as 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 his roles as an MP and prime minister.

Rather than a full tax return, Number 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 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.

A summary of his tax affairs for the financial year 2021/22 was published last March, showing he paid £432,493.

At the time, the prime minister said he did not think people were "that interested" but he published the details "in the interests of transparency".

Mr Sunak began facing pressure to publish his tax returns in 2022 after it emerged his wife Akshata Murty, who is the daughter of an Indian billionaire, had non-dom statusmeaning she did not have to pay UK tax on her international income.

The calls for the prime minister to release his tax details then grew louder following the controversy around Nadhim Zahawi, who was sacked as Tory Party chairman in January 2023 after he failed to disclose millions of pounds in tax.

Mr Sunak's personal wealth has long been used by his opponents to attack him for being "out of touch" during a cost of living crisis.

This breaking news story is being updated and more details will be published shortly.

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