Rishi Sunak’s millionaire wife may have avoided taxes due to her non-dom status

Akshata Murthy, whose family business is valued at around £3.5billion, has been automatically classified as a non-dom, which may have saved her millions of pounds

blank
Earlier this week, Mr Sunak lashed out at the spotlight being placed on his wife and her family

Chancellor Rishi Sunak’s multimillionaire wife is registered as a non-domicile in the UK – something that may have allowed her to avoid millions in taxes.

Akshata Murthy, whose family business is valued at around £3.5 billion, may have used the status to save taxpayers’ money over a number of years, including while her husband set UK tax rates after joining the Treasury in 2019.

Classification is not illegal and can prevent a person from paying UK tax on income from dividends from overseas investments, rent payments on overseas property or bank interest. It also allows a person to avoid inheritance tax in the UK.

A spokeswoman for Ms Murthy said the businesswoman had not claimed non-dom status but had been automatically classified as such because she was an Indian citizen.

The Chancellor is understood to have registered his wife’s Non-Dom status with the Cabinet Office when he was promoted to Minister in 2018.

It is not known exactly how much Ms Murthy has saved, but a report in the Independent cites sources who claim she has saved millions of pounds over several years.

Ms Murthy’s spokeswoman said: “Akshata Murthy is an Indian citizen, her country of birth and her parents’ home. India does not allow its citizens to hold citizenship of any other country at the same time.







Charles chatted with Chancellor Rishi Sunak and his wife Akshata Murthy at an event last night
(

Image:

REUTERS)

“So under UK law, Ms Murthy is treated as a non-resident for UK tax purposes. She has always and will continue to pay UK tax on all of her UK income.”

It is understood that the Treasury is aware of Ms Murthy’s tax status and that she is automatically resident under current law, having lived in the UK for 15 years.

The news comes after pollsters noted a massive drop in the chancellor’s approval ratings following his spring statement.

Chancellor Angela Merkel’s net favorable rating is down 24 points to -29, according to the latest YouGov poll.

Once a front-runner to succeed Boris Johnson, Mr Sunak is now less popular with all voters than Labor leader Keir Starmer (-29 versus -25).

Most Britons (57%) now have a negative opinion of Mr Sunak, compared to just 28% who see him in a positive light.

Tax hikes, soaring energy bills and sky-high inflation are pounding struggling families, and activists are urging the Chancellor to do more to help.

Continue reading

Continue reading

https://www.mirror.co.uk/news/politics/rishi-sunaks-millionaire-wife-avoided-26652518 Rishi Sunak's millionaire wife may have avoided taxes due to her non-dom status

Fry Electronics Team

Fry Electronics.com is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – admin@fry-electronics.com. The content will be deleted within 24 hours.

Related Articles

Back to top button