Rishi Sunak makes £2 million as Britons struggle with cost of living crisis

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Rishi Sunak made £2 million as the UK struggled with the cost of living crisis.

The prime minister additionally paid greater than half a million kilos in UK tax final 12 months.

Mr Sunak’s monetary affairs have got here beneath intense scrutiny since The Independent revealed his spouse Akshata Murty held “non-dom” tax standing to keep away from UK tax on overseas earnings.

She later renounced the controversial standing, nevertheless it subsequently emerged that Mr Sunak had additionally held a US inexperienced card and filed tax returns in America whereas he was chancellor.

A abstract of his tax affairs reveals he paid £508,308 in tax within the monetary 12 months 2022-23.

He made practically £1.8 million by way of capital good points – up from £1.6 million in 2021/22 – as properly as £293,407 in different curiosity and dividends.

All his funding earnings and capital good points got here from a US-based funding fund listed as a blind belief.

He additionally earned his £139,477 wage, a determine that pales as compared with his funding earnings.

Rather than a full tax return, No 10 revealed “a summary” of Mr Sunak’s UK taxable earnings, capital good points and tax paid over the past tax 12 months as reported to HM Revenue & Customs, ready by accountancy service Evelyn Partners.

Last 12 months Downing Street revealed the prime minister had raked in additional than £4.7m and paid greater than £1m in tax over earlier, giving him an efficient tax price of 22%. He paid an additional $51,648 in US taxes over the identical interval, as the US expenses non-residents for tax due on dividends.

The publication got here months after he first pledged to publish his tax return.