Rishi's wife does not pay tax (millions!!) on dividends!

[FlowerArranger]

From today's Guardian :

Rishi Sunak’s multi-millionaire wife claims non-domicile status, it has emerged, which allows her to save millions of pounds in tax on dividends collected from her family’s IT business empire.

Akshata Murthy, who receives about £11.5m in annual dividends from her stake in the Indian IT services company Infosys, declares non-dom status, a scheme that allows people to avoid tax on foreign earnings.

www.theguardian.com/politics/2022/apr/06/rishi-sunaks-wife-claims-non-domicile-status?CMP=Share_AndroidApp_Other

Anyone as outraged by this as I am? I mean what the actual fuck?

I know she has agreed to pay tax on her Indian dividends here now but it is time all these tax loopholes were shut, same for offshore tax havens. Did you know that many of the government buildings in the UK are actually owned by companies in the Cayman Islands? I used to work for HMRC & we moved in to a brand new building which we were told was owned by Crown Estates, turned out it was actually owned by a company in the Cayman Islands.

Yes it is time! So many buildings standing empty as well.

From the FT:

Dhana Sabanathan, partner at law firm Winckworth Sherwood, said: “It is perhaps fitting that a concept introduced in 1799 to protect colonial interests of the British in India, is now being used by wealthy Indians in the UK.”

If she wasn't doing anything wrong why has she changed her stance.
Discovered some morals? A bit late in the day.

This raises questions for me

• is it fair to have to pay tax twice - in the country earned and here?

• if not, is there a be fairer way to impose a tax here?

Rishi sunak's wife did nothing wrong and I don't feel they've made anything better by paying.
However, if it is a loophole for the wealthy that he's inherited as chancellor, something needs to be done going forward as a priority. Then all the other loopholes need to be looked at.

They are an ambitious couple with their eye on No. 10 for the prestige and I think it would be good for the country tbh. After all we have an American one.

@Buzzinwithbez

This raises questions for me

• is it fair to have to pay tax twice - in the country earned and here?

• if not, is there a be fairer way to impose a tax here?

Rishi sunak's wife did nothing wrong and I don't feel they've made anything better by paying.
However, if it is a loophole for the wealthy that he's inherited as chancellor, something needs to be done going forward as a priority. Then all the other loopholes need to be looked at.

From what I've read, can't swear to it, she would pay the tax in country where the income occurs then in the UK she would pay any difference between what she had to pay in that country and what she'd pay here if the income was from here.

I'm not explaining it very well but say she pays £10m in India but if the same income was taxed wholly here she'd owe £20m, they take the £10m from the £20m and she pays the balance.

I'd be grateful if someone could say if that is correct.

@BigGreen

It's so gross, what did we do to deserve such politicians?

If you voted for Johnson to Get Brexit Done or But Corbyn, or didn't vote, or in some constituencies spoiled your vote - you voted for this.

@Malibuismysecrethome

I think they and their interests are just global. I don’t think we have many candidates who are savvy enough to be Chancellor of the Exchequer at least he must have a good grasp on finance.

Strange that so much money went missing in covid. Furlough and loans to businesses seemed very open to abuse. To be fair if it had been coming out of his own pocket I imagine he'd have done better.

@EthelTheAardvark

Loving Johnson telling us that of COURSE he isn't briefing against Sunak, he has his full support, whilst claiming he knew nothing about the non-dom issue.

Because he's never been known to tell a lie, has he?

Of course he's lying. I suspect he's behind this and it's been timed to stick the knife into Sunak's ambitions while garnering personal approbation for defining a woman.

twitter.com/anmurty/status/1512711660594769920?s=20&t=e-Xt_DtNYJ10YhgcgIvv_g

Why is she agreeing to pay UK tax on all her millions to save Rishi Rich his £150K a year job???

^ because of the prestige it brings. When you have great wealth you don’t need the £150,000 salary.

@Malibuismysecrethome

I think they and their interests are just global. I don’t think we have many candidates who are savvy enough to be Chancellor of the Exchequer at least he must have a good grasp on finance.

In what sense does he have a good grasp on finance?!

Running a hedge fund is nothing like managing the economy of a country.

He has made shockingly poor decisions time and time again since becoming chancellor.

@KittyBurrito

Surprise! Tories are not your friends.

So true.

"We don't pay taxes, taxes are for the little people."

Infamous words supposedly from the New York hotelier Leona Helmsley in the late 1980s, the Queen of Mean.

And that attitude is still sadly prevalent.
Certainly in Ireland and I presume in the UK.
I'm surprised there hasn't been a revolution by the squeezed middle.

She is legally correct. Thousands of people don’t pay tax on foreign earnings but you won’t go after them. Its her and Rishi’s skin colour that bothers everyone and their Money. You must read their backgrounds none were born with silver spoon like your previous PMs and Chancellors #RacistBritain

@Watchamocauli

She is legally correct. Thousands of people don’t pay tax on foreign earnings but you won’t go after them. Its her and Rishi’s skin colour that bothers everyone and their Money. You must read their backgrounds none were born with silver spoon like your previous PMs and Chancellors #RacistBritain

My husband's black, my kids are mixed race. I couldn't care less what colour Rishi is but he's been useless and she lied about how she came to have non dom status. Don't expect me to trust you if you lie to me.

Those thousands of people aren't the Chancellor of the Exchequer, making the rules for the rest of us.
No silver spoon? I'm not sure what the definition is these days but schooling at Winchester College surely counts as some kind of a leg up? Ms Murthy's wealth is unearned (by her). And the sums are jaw-dropping.

Sorry I was replying to @Watchamocauli

She's one nothing wrong money earned out of the country fail to see why we feel we're entitled to a slice of it.
She's paid everything she's req'd to .
My outraged friend was on about this who's a hairdresser and puts most of her earnings straight in her arse pocket .

She done nothing wrong but because she has more than us we don't like it .
Wonder how many of us would pay tax we didn't have to I'm first to admit I wouldn't

Let’s be clear, she earned zilch. She did not work for it at all. To me that makes it all the more immoraL

Why do we let ourselves be hoodwinked when people call money derived from dividends and shares ‘earnings’; they are patently not earned in any sense of the word.

She did not lie anywhere about her non Dom status. Proof it don’t just forth crap from twitter

@ancientgran

Prove it where she lied. She is paying taxes to the country where she is earning it.

You want to fill UK Coffers with Indian earned company? Shame on you

Infosys has 229K employees worldwide. My family and friends work there so no their hard earned dividends are not for UK TAX coffers

I think it is totally despicable that a man who happens to be our Chancellor is telling people to 'tighten their belts', introduced NI increases and cut the £20 a week on universal credit is a totally out of touch hypocrite. This creature wants to be Prime Minister! Just typical Tory policy - they could not care less. I cannot believe how they are in government. I am sitting here shivering because I can't afford to put the heating on. I am 68. This is a joke. Please don't vote them in again.