George Osborne reveals he earned over £40,000 last year from shares in his father's company

The Chancellor paid £72,210 income tax on a total taxable income of £198,738.

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George Osborne has published the information in his 2014/15 tax return, showing that he earned over £40,000 in dividend income from shares in his father’s wallpaper company, Osborne and Little.

In addition to the £44,647 the Chancellor made from those shares, which he owned both directly and through a family trust, he also reported £120,256 in taxable pay and earnings as an MP and Cabinet minister, as well as £33,562 in net rental income from leasing his London home. Osborne also earned £3 in interest from savings in a UK bank.

Overall, the Chancellor paid £72,210 income tax on a total taxable income of £198,738 – a rate of 36%.

Osborne’s disclosure comes after David Cameron published a similar document. The Chancellor may come under pressure to match the Prime Minister by detailing the tax he has paid since 2009/10.

Henry Zeffman writes about politics and is the winner of the Anthony Howard Award 2015.

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