The Chancellor, Rishi Sunak, has defended his wife after revelations that she is claiming non-domiciled status, which means she does not have to legally pay UK tax on her earned income. ‘foreigner.
Heiress and businesswoman Akshata Murty, believed to be worth hundreds of millions of pounds, is an Indian citizen and reportedly holds a 0.91% stake in Infosys, an IT company founded by her father.
Her share is thought to be worth £11.5million a year, meaning she may have avoided up to £20million in UK tax by not being domiciled in the UK -United. Murty said she pays taxes overseas.
Sunak told the Sun newspaper: ‘She loves her country like I love mine’, and said his wife had done nothing wrong by choosing a financial arrangement which legally exempts her from paying taxes in Britain. Britain on foreign income.
When asked if he blamed Labor for the ‘horrendous’ libels against his family, Sunak said ‘yes’. A report by The Times suggested anonymous allies of the Chancellor claimed the Prime Minister’s Office was behind the leaks – allegation No 10 and No 11 strongly denied.
A Treasury source told the Guardian: “It’s absolutely not true that Rishi or anyone else in his team thinks it’s from No 10.”
A spokesperson for No 10 told PA Media: ‘It is categorically untrue that No 10 is behind the briefings. The Prime Minister and the Chancellor are united.
Sunak told the Sun newspaper that Murty was eligible to use the so-called “non-dom” arrangement as she was an Indian citizen and planned to return to her home country to care for her parents.
On Wednesday, Murty claimed she was automatically granted non-dom status as an Indian citizen. But tax experts said she had to choose to apply for the status every year. Murty is paying £30,000 a year for his non-domiciled status, his spokesperson has confirmed. The status will automatically cease once she has resided in Britain for 15 years, and is expected to reach that milestone in 2028.
The Chancellor said it was ‘unpleasant’ to read of attacks on his wife ‘especially when she has done nothing wrong’. “She didn’t break any rules. She followed the letter of the law,” Sunak told The Sun.
He said she “pays full UK tax on every penny she earns here in the same way she pays full international tax on every penny she earns back home. international”.
He said he would never dream of asking his wife to renounce Indian citizenship in the name of her political career.
He added: “I hope most unbiased people will understand – although I understand that it’s a confusing situation, that it comes from another country.”
He added: ‘Those are his choices, aren’t they? She’s a private citizen, and so of course I support my wife’s choices. She does not belong to her husband. Yeah, he’s in politics, and we understand that, but I think, you know, we understand that she can be a person independent of her husband in her own right.
Labor has hit back at claims it was responsible for the leak, with a party source telling the Palestinian Authority: “The Chancellor better look a little closer to home. It’s clear that No. 10 is the one briefing Rishi Sunak and, after his failure to tackle the cost of living crisis, you can see why.
Labor leader Sir Keir Starmer said on Thursday Sunak could be guilty of ‘breathtaking hypocrisy’ if his wife slashed her own tax bill as the incumbent No 11 hikes National Insurance for millions of British.
Murty confirmed his ‘non-dom’ status after the independent website first reported the arrangement on Wednesday – the day the 1.25 percentage point National Insurance hike took effect .
This means his permanent residence is considered to be outside the UK despite the Sunaks living in Downing Street.