Rishi Sunak has promised he will publish his tax return and hopes to do so by Christmas once he receives the formal advice from the Cabinet Office.
The prime minister’s tax affairs came under the spotlight in spring when as chancellor it was revealed his wife, Akshata Murty, had non-dom status and was not paying UK tax.
In April, Murty agreed to pay tax on all worldwide income in future, though not backdated. She previously paid £30,000 a year for the non-dom status, which means she does not pay UK tax on her overseas income. Under the current rules, the status would have automatically ceased once she has resided in Britain for 15 years.
During his unsuccessful leadership campaign over the summer, Sunak said he would publish his tax returns if he became prime minister.
Speaking to reporters at the G20 summit in Bali, he said he would stand by that pledge. Asked whether he was willing to publish his tax return in full, Sunak said: “Yes, of course.”
He added: “That is the established precedent and I’d be very happy to follow the precedent. In terms of timing, I will have to speak to the Cabinet Office and figure out the right way that happens. But I have no problem doing that.”
Questioned on whether this would happen within his first year in No 10, Sunak said: “Yes, of course. I have to talk to the Cabinet Office to check on the precedent for how those things happen, but I have absolutely no trouble doing it.”
There is no particular precedent for British prime ministers to publish their tax returns, unlike in the US where it is customary for presidents to do so. However, some prime ministers have done so in recent years. David Cameron published his under pressure after revelations in the Guardian about his holding in his late father’s offshore fund.
Theresa May published hers during the 2016 leadership campaign, as did her then rival, Michael Gove. However, May did not publish her tax returns as prime minister despite pressure from Jeremy Corbyn, the then Labour leader, who released his own document. Boris Johnson and Liz Truss did not publish their tax returns.
