On Wednesday Labourâ€™s London Mayor hopeful, Sadiq Khan, published what he calls his â€œPersonal Tax Returnâ€. Rather than the actual tax returns it was a ten year spreadsheet produced by his â€œpersonal chartered accountantâ€. See below, click to enlarge.
In his rush to differentiate himself from Zach Goldsmith Khan asserts that for ten years straight he has had no income from “Savings Income, Property, Trusts, etc”. Is Khan really saying that in ten years he has been so improvident as to have such punny savings that he has not incurred Â£1 of interest in any of the those ten years?
It is one thing not including ISAs on your tax returns as their returns are not taxable but if Khan has been receiving interest from savings he should be declaring this. The idea that Kahn has no savings seems unlikely. Leaving off this source of income undermines his figures and he should provide a complete picture. It is no good slagging off Goldsmith for his income from other sources and then being coy about his own.