London

London mayoral candidate Zac Goldsmith received £10m in five years

Zac Goldsmith Image copyright Getty Images
Image caption Zac Goldsmith said he had benefited "very little" from having had non-domiciled tax status

Conservative London mayoral candidate Zac Goldsmith has received more than £10m in earnings and allowances since becoming an MP in 2010.

He has published his tax returns, after facing questions over his financial arrangements, and they show he paid £4.5m in tax over that period.

London Labour said Mr Goldsmith's tax returns "raise more questions than they answer".

Mr Goldsmith said he had delivered on his promise to be transparent.

In addition to his earnings of more than £6m, Mr Goldsmith also received £4.3m in capital gains since 2010.

Labour's candidate, Sadiq Khan, has said he will publish his return later this week.

On BBC Newsnight last week, Mr Goldsmith pledged to release his records after he was asked whether his own tax affairs compromised his ability to speak out against the activities of multi-nationals accused of tax avoidance.

He has called on all mayoral candidates to do the same.

Until 2010, the Conservative MP for Richmond Park held a non-dom tax status which he inherited from his father, Sir James Goldsmith. People with the status must pay tax on their UK earnings, but do not have to pay tax on any foreign income.

Image copyright Getty Images
Image caption Labour's Sadiq Khan is expected to publish his tax returns this week

The Labour MP for Bermondsey and Old Southwark, Neil Coyle, called on the mayoral candidate to explain "any detail of the benefits he derived from his non-domiciled tax status", saying: "Londoners deserve to know."

Releasing details of his returns today, Mr Goldsmith said: "I became non-dom automatically because of my father's international status. It was not a choice, and I relinquished it seven years ago."

"I was born, grew up and have always lived in London - except for two years travelling abroad in my early 20s. Because of this I derived very little, if any, benefit from this status as my income came to the UK and was therefore taxed here."

Candidates' tax arrangements were one of the main areas of controversy during the 2012 mayoral election, leading to calls for politicians to publish their returns more routinely.

Related Topics

More on this story