Cayman Islands, Caribbeanand International News
Monday, Jul 15, 2024

Rishi Sunak's wife Akshata Murty defends non-dom tax status

Rishi Sunak's wife Akshata Murty defends non-dom tax status

Chancellor Rishi Sunak's wife, Akshata Murty, has revealed she has non-domiciled status for UK tax purposes.
The status means Ms Murty legally does not have to pay UK tax on income she earns outside Britain.

But Ms Murty's spokeswoman told the BBC she pays all the tax that is legally required in the UK.

Labour said it was "staggering" Mr Sunak's family "may have been benefitting from tax reduction schemes".

The party's shadow Treasury minister Tulip Siddiq called on the chancellor to "urgently explain how much he and his family have saved on their own tax bill at the same time he was putting taxes up for millions of working families".

The story - first reported in the Independent - comes on the day the National Insurance rise came into force.

The government says the increase will raise £39bn which can be spent on health and social care.

Responding to the report, Ms Murty's spokeswoman confirmed that "according to British law, Ms Murty is treated as non-domiciled for UK tax purposes.

"She has always and will continue to pay UK taxes on all her UK income," she said.

The BBC has been told that Ms Murty does pay taxes abroad on her foreign income.

Ms Murty, who is a fashion designer, was born in India in 1980 and holds an Indian passport.

She married Mr Sunak in 2009. Her father NR Narayana Murty founded the IT services company Infosys which has grown to be one of India's biggest firms and he is now a billionaire.

Ms Murty is reported to own a little under 1% of the shares of Infosys with a value estimated last month of more than £500m. She also has interests in several companies in the UK.

Ms Murty's spokeswoman said: "Akshata Murty is a citizen of India, the country of her birth and parents' home. India does not allow its citizens to hold the citizenship of another country simultaneously."

A resident of the UK would have to actively declare they believed themselves to be eligible for "non-domiciled" status from HMRC.

Asked to confirm this is what Ms Murty did, a government source said: "Her domicile status is a matter of fact/law determined by her specific circumstances (domicile at birth)", but added they would not be commenting further on a private individual's tax status.

It is understood that Mr Sunak made the Cabinet Office aware of his wife's tax status as part of his declaration of interests when he first became a minister in 2018. The Treasury was also made aware of the fact in case there were any conflicts of interest.

Related Articles

Paper straws found to contain long-lasting and potentially toxic chemicals - study
FTX's Bankman-Fried headed for jail after judge revokes bail
Blackrock gets half a trillion dollar deal to rebuild Ukraine
Israel: Unprecedented Civil Disobedience Looms as IDF Reservists Protest Judiciary Reform
America's First New Nuclear Reactor in Nearly Seven Years Begins Operations
Southeast Asia moves closer to economic unity with new regional payments system
Today Hunter Biden’s best friend and business associate, Devon Archer, testified that Joe Biden met in Georgetown with Russian Moscow Mayor's Wife Yelena Baturina who later paid Hunter Biden $3.5 million in so called “consulting fees”
Singapore Carries Out First Execution of a Woman in Two Decades Amid Capital Punishment Debate
Google testing journalism AI. We are doing it already 2 years, and without Google biased propoganda and manipulated censorship
Unlike illegal imigrants coming by boats - US Citizens Will Need Visa To Travel To Europe in 2024
Musk announces Twitter name and logo change to X.com
The politician and the journalist lost control and started fighting on live broadcast.
The future of sports
Unveiling the Black Hole: The Mysterious Fate of EU's Aid to Ukraine
Farewell to a Music Titan: Tony Bennett, Renowned Jazz and Pop Vocalist, Passes Away at 96
Alarming Behavior Among Florida's Sharks Raises Concerns Over Possible Cocaine Exposure
Transgender Exclusion in Miss Italy Stirs Controversy Amidst Changing Global Beauty Pageant Landscape
Joe Biden admitted, in his own words, that he delivered what he promised in exchange for the $10 million bribe he received from the Ukraine Oil Company.
TikTok Takes On Spotify And Apple, Launches Own Music Service
Global Trend: Using Anti-Fake News Laws as Censorship Tools - A Deep Dive into Tunisia's Scenario
Arresting Putin During South African Visit Would Equate to War Declaration, Asserts President Ramaphosa
Hacktivist Collective Anonymous Launches 'Project Disclosure' to Unearth Information on UFOs and ETIs
Typo sends millions of US military emails to Russian ally Mali
Server Arrested For Theft After Refusing To Pay A Table's $100 Restaurant Bill When They Dined & Dashed
The Changing Face of Europe: How Mass Migration is Reshaping the Political Landscape
China Urges EU to Clarify Strategic Partnership Amid Trade Tensions
Europe is boiling: Extreme Weather Conditions Prevail Across the Continent
The Last Pour: Anchor Brewing, America's Pioneer Craft Brewer, Closes After 127 Years
Democracy not: EU's Digital Commissioner Considers Shutting Down Social Media Platforms Amid Social Unrest
Sarah Silverman and Renowned Authors Lodge Copyright Infringement Case Against OpenAI and Meta
Italian Court's Controversial Ruling on Sexual Harassment Ignites Uproar
Why Do Tech Executives Support Kennedy Jr.?
The New York Times Announces Closure of its Sports Section in Favor of The Athletic
BBC Anchor Huw Edwards Hospitalized Amid Child Sex Abuse Allegations, Family Confirms
Florida Attorney General requests Meta CEO's testimony on company's platforms' alleged facilitation of illicit activities
The Distorted Mirror of actual approval ratings: Examining the True Threat to Democracy Beyond the Persona of Putin
40,000 child slaves in Congo are forced to work in cobalt mines so we can drive electric cars.
BBC Personalities Rebuke Accusations Amidst Scandal Involving Teen Exploitation
A Swift Disappointment: Why Is Taylor Swift Bypassing Canada on Her Global Tour?
Historic Moment: Edgars Rinkevics, EU's First Openly Gay Head of State, Takes Office as Latvia's President
Bye bye democracy, human rights, freedom: French Cops Can Now Secretly Activate Phone Cameras, Microphones And GPS To Spy On Citizens
The Poor Man With Money, Mark Zuckerberg, Unveils Twitter Replica with Heavy-Handed Censorship: A New Low in Innovation?
Unilever Plummets in a $2.5 Billion Free Fall, to begin with: A Reckoning for Misuse of Corporate Power Against National Interest
Beyond the Blame Game: The Need for Nuanced Perspectives on America's Complex Reality
Twitter Targets Meta: A Tangle of Trade Secrets and Copycat Culture
The Double-Edged Sword of AI: AI is linked to layoffs in industry that created it
US Sanctions on China's Chip Industry Backfire, Prompting Self-Inflicted Blowback
Meta Copy Twitter with New App, Threads
The New French Revolution
BlackRock Bitcoin ETF Application Refiled, Naming Coinbase as ‘Surveillance-Sharing’ Partner