Prime Minister Rishi Sunak publishes long-awaited UK tax returns

Rishi Sunak has published his long-awaited personal tax return.

The Prime Minister earned more than £1.9m in income and capital gains, it shows.

It follows Mr Sunak vowing to be transparent about his extensive wealth during his unsuccessful campaign to be Tory leader last year.

The “summary” document, published by No10 on Wednesday, covers his income over the last three financial years during his time as a government minister and as Chancellor.

He has paid more than £1m in UK tax over the period, including £432,493 in the last financial year.

The document also reveals that Mr Sunak paid $6,892 to US authorities on share dividends valued at nearly $46,000.

Sources said that, combined with the details of his UK tax liabilities, the notes set out the amount of all tax paid by the PM in both the UK and US.

Critics were quick to question the timing of the release, which came on a busy news day in Westminster.

Green Party MP Caroline Lucas accused the PM of "nakedly attempting to bury" his tax return as Boris Johnson was being grilled over the Partygate scandal and MPs voted on his Brexit deal.

Labour deputy leader Angela Rayner tweeted: “Wonder why he’s chosen today?”

The document sets out how the majority of Mr Sunak’s tax bill in 2021/22 - £325,826 - was on capital gains of £1.6million relating to what the return describes as a single US-based investment fund.

It adds that the investment is listed in the register of ministerial interests as a “blind management arrangement”.

The PM also had dividend income of £172,415, which was again related to the US investment fund.

The document says Mr Sunak is “subject to tax in the UK on your portion of the income and gains received by this fund, notwithstanding that none of those amounts are distributed to you”.