The Indian wife of the British finance minister said she will pay taxes on all her worldwide income in the UK after her financial arrangement came into the spotlight. Akshata Murty, the wife of Chancellor of the Exchequer Rishi Sunak, said on Friday evening that she made the decision because she didn’t want her non-domiciled status—which exempts her from paying UK tax on foreign income—to be a “distraction” for her husband. Murty, the fashion-designer daughter of an Indian billionaire, confirmed she held non-dom status after the Independent revealed the arrangement on the day a national insurance hike hit millions of workers. It means the Indian national is only liable to pay UK tax on her British income, but not on foreign income—unless it is brought into the UK—until her residence in the UK reaches 15 years. Individuals can choose to give up their non-dom status and be considered British for tax purposes if …
Wife of Finance Minister to Pay UK Tax on All Worldwide Income Following Controversy
April 9, 2022
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