Rachel Reeves refuses to publish tax return

The Chancellor said she had no plans to release information on her personal finances, but Downing Street confirmed the Prime Minister would.

Starmer holds an investment roundtable discussion — Downing Street has confirmed that Sir Keir Starmer will release information on his tax return, however, the Chancellor has said that she will not (Frank Augstein/PA)

Chancellor Rachel Reeves has refused to publish her tax return despite Sir Keir Starmer intending to set out how much he paid.

Ms Reeves said she had no plans to release information on her personal finances, but Downing Street confirmed the Prime Minister would.

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

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

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

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

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.

Battle of Britain service at Westminster Abbey — 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 speech — 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 tax 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.”