It has recently been revealed that Rishi Sunak, the Prime Minister of the United Kingdom, earned over £2.2 million in the last financial year. This information comes from Sunak’s tax return for the year 2022/23, which also shows that he paid £508,308 in taxes, resulting in an effective tax rate of less than 23%.
These figures further solidify Sunak’s position as one of the wealthiest individuals in the country. Over the past four years, his earnings have surpassed £7 million. As an MP, Sunak earned £84,119, and as Prime Minister, he received an additional £55,358.
He also earned £3,985 in bank interest and £289,422 in investment interest and dividends.
However, most of Sunak’s income came from capital gains, amounting to £1,796,202. This means that his total earnings for the year reached £2,229,086.
In terms of taxes, he paid £163,364 in income tax and £359,240 in capital gains tax, totalling £508,308. His income tax rate was 37.7%, while his capital gains were taxed at a rate of 20%. Overall, this resulted in an effective tax rate of 22.8%.
It is worth noting that in the previous three years, Sunak earned just under £5 million between 2019/20 and 2021/22. These figures highlight the significant wealth accumulated by the Prime Minister over a relatively short period.
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