The business secretary has denied that the chancellor’s wife is “sheltering” from taxation by holding a non-domicile status.
Murthy is exempt from UK inheritance taxes and can avoid tax on rental income and overseas investments.
Kwasi Kwarteng was questioned reportsAlthough Akshata Murthy was in the status status status as of April 2021, he seemed to ignore concerns. He stated that the public would “draw their own conclusions” regarding the situation. He said that “there is no hint of any wrongdoing at all” in Rishi Sunak’s wife holding the status.
When asked if Murthy was “sheltering” herself from UK tax demands, Kwarteng told the BBC earlier today: “I don’t think that is true at all. Sheltering sounds like you’re trying to avoid things.
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“I think she has been very clear, I think she has been very transparent, the Chancellor has been very transparent and this non-dom status has been part of the UK tax system for more than 200 years,” Kwarteng argued.
Labour have complained that it is “staggering” that Sunak’s family “may have been benefitting from tax reduction schemes”.
Murthy’s spokeswoman has said she pays all taxes she is legally required to.
While studying for an MBA at Stanford University, Sunak met his future wife, the daughter of Narayana Murthy, Indian billionaire and co-founder of IT services giant Infosys.
Murthy & Sunak were married in a two-day traditional ceremony in Bangalore in 2009. The couple has two daughters.
Sunak was previously a director at Catamaran Ventures, an investment firm owned by his father in law.