March 23rd 2023.
(Image Source: https://metro.co.uk) Keir Starmer and Rishi Sunak
Sir Keir Starmer has released his tax returns, a day after Rishi Sunak did the same. The Labour Party leader's documents revealed he made capital gains of £85,466 in the 2021/22 financial year, with a total of £23,930 in capital gains tax paid. This was on top of his salary as MP and Leader of the Opposition. Mr Sunak's tax returns showed he made nearly £5 million in the last three years, with just over £1 million paid to HMRC. This makes him the first prime minister since David Cameron to publish his tax returns. Following a public backlash, Mr Sunak's wife, Akshata Murthy, renounced her non-dom status and claimed she would pay UK tax on her fortune in order to stop the issue from becoming a ‘distraction’ for her husband. Sir Keir did not directly answer a question on whether the capital gains tax rate should be reformed, but he did say that the Prime Minister had done the "right thing" by publishing his returns.
(Image Source: https://metro.co.uk) The public debate surrounding Keir Starmer and Rishi Sunak's taxes
The recent release of Sir Keir Starmer and Rishi Sunak's tax returns has sparked a public debate about the fairness of the capital gains tax rate. While the Labour Party leader made capital gains of £85,466 in the 2021/22 financial year, paying £23,930 in capital gains tax, the Prime Minister earned nearly £5 million in the last three years, paying just over £1 million to HMRC. While Sir Keir did not directly answer a question on whether the capital gains tax rate should be reformed, his publication of his tax returns in response to Mr Sunak's has led to wider discussions about the topic.
(Image Source: https://metro.co.uk)
(Image Source: https://metro.co.uk)
(Image Source: https://metro.co.uk)
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