Rishi Sunak has just released a summary of his tax return for 22/23. Sunak made £2,229,086, on which he paid tax of £508,308, an effective tax rate of 22.8%. This was largely due to c. £1.8m of capital gains being taxed at 20%, but also his £276,218 of dividends being taxed at a lower rate to income.

If you were an employee and you made £75,000 you would have paid tax of £17,432 (not including the £5,369 of employees NIC also due). This gives an effective tax rate of 23.2%, which is higher than Rishi’s, despite making just 3.3% of what Rishi made in that year.

In 2016, just a year after becoming an MP, Sunak voted to reduce the capital gains tax rate from 28% to 20%. Absent this cut, he would have paid an extra £143,697 in tax for 2022/23.