UK Prime Minister Rishi Sunak's tax payment surpasses half a million pounds for 2022-23

Rishi Sunak tax payment: British Prime Minister Rishi Sunak paid over half a million pounds in personal tax during the financial year 2022-23, according to Downing Street's recent transparency data release. The 43-year-old, of Indian descent, had previously signalled his intention to disclose his tax returns, and the latest tax assessment document sheds light on his financial affairs. Sunak's tax bill amounted to £508,308, marking a notable increase of approximately £75,000 compared to the preceding fiscal year (2021-22).

According to the tax documents, Sunak recorded earnings of nearly £1.8 million from capital gains, up from £1.6 million in the previous year. Additionally, he accrued £293,407 from other interest and dividends. Notably, all investment income and capital gains originated from a US-based investment fund listed under a blind trust, as outlined in the summary. Further, he earned £139,477 from his parliamentary duties and role as Prime Minister, including allowances related to his residence at 10 Downing Street.

The tax summary, prepared by accountancy service Evelyn Partners, follows the publication of Sunak's previous tax returns submitted to His Majesty's Revenue and Customs (HMRC) in March of the previous year. This disclosure came amidst mounting pressure, particularly after revelations regarding Sunak's wife, Akshata Murty, who previously held non-domiciled status, exempting her from UK taxation on international income derived from her father's software firm, Infosys. Murty has since relinquished this legal status to mitigate potential distractions to her husband's political career.

(With PTI inputs.)