Chancellor of the Exchequer Rishi Sunak holds his ministerial 'Red Box' as he stands with his ministerial team and Parliamentary Private Secretaries, outside 11 Downing Street, London, before delivering his Budget to the House of Commons. Picture date: Wednesday October 27, 2021.
Rishi Sunak was listed as a beneficiary of tax haven trusts while setting taxes in the UK as the chancellor of the exchequer, documents seen by the Independent reveal.
The under-fire MP was seen moving belongings out of Downing Street this weekend as he clings on to his job.
Removal vans were pictured outside his Number 10 flat that he shares with his wife Akshata Murthy, who has now pledged to pay UK taxes on all her worldwide income moving forward.
But that could be the least of Sunak’s worries.
According to newly leaked documents, trusts in the British Virgin Islands and Cayman Islands, created to help manage the tax and business affairs of his wife Akshata Murty’s family interests, note Mr Sunak as a beneficiary in 2020.
Mr Sunak became chancellor in February that year, and had previously been chief secretary to the Treasury since 2019.
Pat McFadden, Labour’s shadow chief Treasury secretary, said Mr Sunak being listed as a beneficiary of tax haven trusts is “extremely serious” and called for answers.
He said: “We need urgent answers from the chancellor as to why he has been linked to a tax haven. We need full transparency about this and the other stories about the chancellor emerging over the past 24 hours.”
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