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?

@RainySmarties

She's following the rules. That's more than can be said for our prime minister.

The rules brought in only a few years ago by the Tories?

Isn’t Rishi kind of missing the point- it’s not ‘him ‘ the hoo ha is about (although the green card issue is.

@annabelindajane

Good for him although it’s more public money but hey ho .

As for very rich people I know of one who bought 2 cancer related machines for the NHS at around 16 million each . If he hadn’t been outrageously rich that’s 2 bits of equipment we wouldn’t have in this country which is now available for children who used to have to go to a Europe to be treated .

If we taxed his ilk properly we wouldn’t be dependent on their voluntary donations.

And as for the Sunaks tax affairs I expect they pay a lot of money to an international accountancy company who will employ a lot of highly paid men and women to sort all this out for them . As vast an empire as her fathers will be seriously complicated. She also probably has very little hands on day to day knowledge of all her investments . She will probably attend meetings every now and again .

daimbarsatemydogsbone
As usual, not the whole story

Indeed - I also pointed out to j712adrian yesterday that his/her link also stated this;

Treasury sources said Sunak had no sight of the specific areas that would be deemed high priority for the levelling up fund, although ministers were able to see a provisional map showing how the cash would be spread under the categories.

So they have faked the documents to ensure they can't be nabbed for what really happened.

I doubt they have faked the documents - in fact the Good Law Project appear to be losing their touch:

www.theguardian.com/politics/2022/jan/18/government-wins-appeal-over-contract-for-firm-linked-to-dominic-cummings

order-order.com/2022/02/15/good-law-project-fails-in-its-entirety-on-dido-harding-case/

Sure Richy Rishi's Richymond definitely needs the cash more than Hull or Barnsley.

The Catterick Garrison bid was in partnership with North Yorkshire County Council and the Ministry of Defence - so blame them.

Hull was awarded £19.5 million from the Levelling Up Fund in Autumn 2021;
www.hull.gov.uk/business/business-grants-and-funding/levelling-fund-grant-scheme

Barnsley appear to have lost out to Doncaster £18m, Rotherham £40m and Sheffield £37m - all nearby Labour constituencies, although Barnsley was recently awarded £3.93m museum funding - plus £23m from the Towns Fund last year - plus any EU structural funding due until 2023 - which we are paying for via the Brexit divorce bill;

www.barnsley.gov.uk/news/barnsley-museums-to-receive-gbp393m-funding-which-helps-safeguard-nations-cultural-heritage/

www.barnsley.gov.uk/news/first-projects-from-gbp231m-towns-fund-investment-complete/

If we over tax the rich they go elsewhere. Better they spend their riches in this country . I live in Scotland and already some of the rich are leaving as know if independence comes they will be a target .

If we taxed his ilk properly we wouldn’t be dependent on their voluntary donations.

If we taxed his ilk 'properly' they wouldn't be hanging around and another country would benefit from any donations, so kind of counterproductive. There in lies the political conundrum.

This fiasco is enough to turn anybody into a socialist. Why do they even need so much money.

Today 21:01 annabelindajane

Good for him although it’s more public money but hey ho .

As for very rich people I know of one who bought 2 cancer related machines for the NHS at around 16 million each . If he hadn’t been outrageously rich that’s 2 bits of equipment we wouldn’t have in this country which is now available for children who used to have to go to a Europe to be treated .
should rich people be allowed to use their income for their own choice of charity because of tax loopholes and efficiency or should we have a flat rate that means it’s distributed according to national priorities?

I’m sick of hearing this nonsense about how the rich would leave if they were taxed properly. They didn’t leave when they were taxed at 80%.

@Viviennemary

This fiasco is enough to turn anybody into a socialist. Why do they even need so much money.

Quite. I’m not really sure why socialism is such a dirty word anyway.

NHS feels pretty socialist as a concept.
Die hard tories screaming for furlough support.
Failed banks getting bailed out.
Cries for Government intervention in P&O.

But suggest billionaires should pay more tax and we’re jealous and it’s the politics of envy.

@Blossomtoes

I’m sick of hearing this nonsense about how the rich would leave if they were taxed properly. They didn’t leave when they were taxed at 80%.

That was in the 1970's! The way people do business has moved on somewhat since then.

I know it was the 70s. So what’s different now - apart from people being greedier?

@Blossomtoes

I’m sick of hearing this nonsense about how the rich would leave if they were taxed properly. They didn’t leave when they were taxed at 80%.

The people who would leave this country are the ones who aren't paying their way now.

Many very rich people do pay their taxes, but we don't hear about them because they just get on with it.

My family's fortune is around £300 million a year.
We all live in the UK.
We all pay the tax we are bound to pay without creative accountancy, loopholes and offshore trusts.

Not all rich people are arseholes.

Oh misunderstood, I thought we were talking specifically about non-doms.

Love that letter. This is my interpretation:

I'm a knob, I need someone independent that I've chosen to see evidence which I'll supply to tell the angry little people that I have been entirely reasonably in my tax avoidance strategies and they need to shut up so I can make it legal for me, my family and friends to pay less tax than we already avoid paying.

Oh and I'll write my demand of what you my boss have to agree to on my work headed note paper so that I can remind you of how important I am.

Of course I am so much cleverer than the little people who will believe whatever shit our carefully, handpicked independent person tells them.

Hilarious.

I’d be glad to see the back of greedy rich tax dodging arseholes buying up masses of properties as investments that no one can live in. Are we supposed to miss them when they don’t give anything to help anyone? Not talking about rich who pay their taxes btw.

@annabelindajane

If we over tax the rich they go elsewhere. Better they spend their riches in this country . I live in Scotland and already some of the rich are leaving as know if independence comes they will be a target .

They can fuck off then. If they don’t like paying their fair share I certainly don’t want them. If all the money laundering kleptocracy left London maybe housing would be affordable.

As for very rich people I know of one who bought 2 cancer related machines for the NHS at around 16 million each . If he hadn’t been outrageously rich that’s 2 bits of equipment we wouldn’t have in this country which is now available for children who used to have to go to a Europe to be treated

Where in Europe did the children have to go to be treated before? Most European countries have higher taxation than in the UK, so presumably they managed to fund their medical equipment via this rather than relying on voluntary donations?

Some rich people ask to be taxed more these days, at least the ones with any sort of conscience do.

@annabelindajane. I apologise — not the Hampshire pony set— the Scottish landed gentry grouse shooting set I’m guessing— you are deluded— Paul McCartney and Elton John aren’t non Dom’s— I work in that business and they are known for paying all their taxes here and being prolific givers to charities of their choice. It doesn’t matter if these non doms just piss off - they bring little to benefit most people- it’s not as if they are even contributing— I can see you might be annoyed if they go and you run a high end luxury service company based on people with more money than sense— I can only think you are married to someone in this position or have a business benefitting from their largesse. They might leave - who cares????

Oh I missed the pink flloyd guys too

@annabelindajane

And as for the Sunaks tax affairs I expect they pay a lot of money to an international accountancy company who will employ a lot of highly paid men and women to sort all this out for them . As vast an empire as her fathers will be seriously complicated. She also probably has very little hands on day to day knowledge of all her investments . She will probably attend meetings every now and again .

She also probably has very little hands on day to day knowledge of all her investments . She will probably attend meetings every now and again

Seriously? As excuses go, this pretty much scrapes the proverbial barrel...

@SecretSpAD thank you. Been virtually screaming downthread that I know people just like you. You DO exist, you CAN be rich and pay taxes. Tax planning as it's called doesn't have to be top of a rich person's agenda.

@SecretSpAD thank you. Been virtually screaming downthread that I know people just like you. You DO exist, you CAN be rich and pay taxes. Tax planning as it's called doesn't have to be top of a rich person's agenda.

I agree. I absolutely don't care how wealthy someone is, nor am I envious of their wealth, as long as they pay their fair share and do not try to become even richer by finding ways to reduce what they pay in tax.