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       Labour has called for chancellor Rishi Sunak to "urgently explain" how much his family has saved on tax bills after it was revealed that his millionaire wife Akshata Murthy has claimed non-domiciled status in order to save on her taxes.

       Although it was not revealed exactly how much has been saved by Ms Murthy, sources told The Independent it could have amounted to millions of pounds in tax on foreign earnings over several years.

       The “non-dom” status means that she does not have to pay UK tax on income from dividends from foreign investments, rental payments on property overseas or bank interest. The status also means a person avoids UK inheritance tax.

       A spokesperson for Ms Murthy said: “Akshata Murty is a citizen of India, the country of her birth and parent’s home. India does not allow its citizens to hold the citizenship of another country simultaneously. So, according to British law, Ms Murty is treated as non-domiciled for UK tax purposes. She has always and will continue to pay UK taxes on all her UK income.”

       Show latest update 1649305263 Rishi Sunak’s millionaire wife avoids tax through non-dom status

       Rishi Sunak’s millionaire wife Akshata Murthy has claimed non-domicile status in order to save on her tax bill while her husband was chancellor, The Independent has learned.

       Although it is not exactly known how much Ms Murthy has saved, sources say it could have been millions of pounds in tax on foreign earnings over several years.

       A spokesperson for Ms Murthy said: “Akshata Murty is a citizen of India, the country of her birth and parent’s home.”

       “India does not allow its citizens to hold the citizenship of another country simultaneously. So, according to British law, Ms Murthy is treated as non-domiciled for UK tax purposes. She has always and will continue to pay UK taxes on all her UK income.”

       Anna Isaac reports.

       Revealed: Rishi Sunak’s millionaire wife avoids tax through non-dom status Exclusive: Akshata Murthy could have saved millions of pounds in tax on foreign earnings over several years, sources claim

       Alisha Rahaman Sarkar 7 April 2022 05:21

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       Alisha Rahaman Sarkar 7 April 2022 04:37