Tax Sunak’s accountants have interests of rich at heart

Rishi Sunak’s accountancy firm is a wealth management company that argued against removing nondomiciled status, has welcomed the government’s tax breaks for wealthy savers and promises to minimise clients’ capital gains tax.

Evelyn Partners signed off on the three-page summary of the prime minister’s tax affairs that Downing Street released this week, showing Sunak made about £5m in the last three years, mostly through his USbased investment fund.

Sunak’s accountancy firm calls itself a “global network for global clients” promising to help manage their offshore assets and take advantage of the UK’s tax code by using capital gains tax.

It also promises to help set up “complex tax-advantaged investments” for its clients.

This week, the Guardian revealed the prime minister had benefited by £300,000 over the last three years from a decision the Tories took in 2016 to reduce CGT from 28% to 20%.

Last week, staff from Evelyn Partners wrote a long post on the firm’s website analysing the effects of the budget for its clients but also making clear the firm’s own views on policy. In one, it cautions against Labour’s policy of abolishing non-domiciled tax status, from which Sunak’s wife, Akshata Murty, benefited until she gave it up amid public outcry.

It also welcomed the government’s controversial decision to scrap the tax-free limit on lifetime pension contribution.

A spokesperson for the firm said it had also argued against Conservative policy decisions in the past. The spokesperson added: “As experts in these areas, we will of course express our professional views on whether policy measures are positive or negative for our clients’ finances, irrespective of whoever is in government. We are strictly apolitical.”

Downing Street did not respond to a request for comment.