UK

Rachel Reeves will publish a tax return after saying she had no ‘plans to do so’

A Treasury spokesperson indicated that Ms Reeves will publish details on her finances.

Chancellor Rachel Reeves is set to publish a tax return
Chancellor Rachel Reeves is set to publish a tax return (Jordan Pettitt/PA)
By David Hughes and Caitlin Doherty, PA

Rachel Reeves will publish a tax return, it is understood, after the Chancellor earlier said she did not have any plans to do so.

A Treasury spokesperson indicated that Ms Reeves will publish details on her taxes, and Downing Street has confirmed that the Prime Minister will do the same.

In 2024, a summary of Sir Keir’s return showed he paid almost £100,000 to the taxman.

Answering questions following a major speech on her economic growth plans, Ms Reeves said earlier on Wednesday: “Chancellors and prime ministers haven’t published their tax returns in the past, and I don’t have any plans to do so.”

Chancellor Rachel Reeves had said she has no plans to release her tax returns
Chancellor Rachel Reeves had said she has no plans to release her tax returns (Peter Cziborra/PA)

The Prime Minister’s press secretary told reporters: “He published his tax return in opposition and will do so as Prime Minister.”

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Both Rishi Sunak and Jeremy Hunt published tax figures while they were in Government, as Sir Keir did in opposition.

Figures released in February 2024 showed Sir Keir Starmer paid £99,431 in tax after making £275,000 in capital gains.

The release showed that the Labour leader paid £44,308 in income tax in 2022/23.

He also paid £52,688 in capital gains tax after the sale of a field in December 2022 partly owned by himself and partly owned by his father’s estate.

Former prime Minister Rishi Sunak released his tax returns while in office, revealing that he paid more than £500,000 in UK tax
Former prime Minister Rishi Sunak released his tax returns while in office, revealing that he paid more than £500,000 in UK tax (Jack Taylor/The Times/PA)

Rishi Sunak published a summary of his tax affairs while he was in No 10.

The then prime minister paid more than £500,000 in UK tax for 2022/23 as his total income rose to £2.2 million.

Ms Reeves’ predecessor in No 11 Jeremy Hunt paid a total of £117,418 in UK tax in 2022/2023, a summary of his return showed.

His total income before tax was £416,605, including £27,370 in rental income.

Kemi Badenoch’s spokesman suggested that the leader of the opposition is waiting to see what Rachel Reeves does before deciding whether to release her own tax returns
Kemi Badenoch’s spokesman suggested that the leader of the opposition is waiting to see what Rachel Reeves does before deciding whether to release her own tax returns (Jordan Pettitt/PA)

Kemi Badenoch’s spokesman suggested that the Conservative leader is waiting to see what the Chancellor does with her tax returns.

Asked whether Mrs Badenoch would publish her returns, the spokesman said: “She is in opposition. And she … waits to see what Rachel Reeves does.”

Pushed further on the point, the spokesman later added: “The point is we are in opposition, you can ask me this question when we form a government in four years.”