Prime Minister Rishi Sunak’s tax adviser Evelyn Partners has released a statement detailing Sunak’s UK taxable income, capital gains and tax paid over the past three tax years.
Rebecca Cave, at Accounting Web, reports on what the statement tells us and what it doesn’t, and works through the calculations.
It tells us, for example, of Sunak’s gross Parliament earnings, bank interest and investment income, and that the source of that investment income is a US-based fund held in a ‘blind management arrangement’.
“This means that Sunak has no control over that money; he cannot direct how it is invested or when gains are realised,” Cave wrote. “He also can’t access those funds while he is a minister, but he remains liable to UK income tax and CGT on them.”
In the column of what it doesn’t tell us: The amount of employee’s class 1 NIC the PM paid each year, the value of benefits in kind and his pension contributions.
