Jeremy Corbyn fined £100 for filing tax return late

Posted On: 
11th April 2016

Jeremy Corbyn was fined £100 for handing in his tax return a week late, it has emerged.

Jeremy Corbyn handed in his tax return a week late.

The embarrassing revelation came after the Labour leader eventually published the document this afternoon - six days after pledging to do so.

Mr Corbyn's office confirmed earlier that they were still trying to track down a copy of the document.

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When it was finally released at 3.40pm, it showed that he had submitted his details to Her Majesty's Revenue and Customs on 6 February 2016 - six days after the 31 January deadline.

His spokesman confirmed to PoliticsHome that this meant he was landed with a £100 fine from the taxman.

The documents showed that he paid £18,912 income tax on earnings of £70,795. He supplements his earnings as an MP with lecture and survey fees.

Under HMRC rules, MPs must file a paper copy of their tax returns.

Mr Corbyn yesterday suggested everyone standing for election and all political journalists should be made to publish their tax returns.

"I think it's probably a good thing if we move generally in that direction so everybody knows what influences are at play," he told the BBC's Andrew Marr show.

"Money and politics have to be treated with the greatest sense of openness possible so you know what influences are at work on any individual on whatever political or any other decisions they make."

Chancellor George Osborne also published his tax return today as the row over the Panama Papers rumbles on.

The publication comes after Downing Street urged Mr Osborne to “show transparency” and match David Cameron by publishing his tax returns.

Among the 11 million leaked documents from law firm Mossack Fonseca were papers showing how the Prime Minister's late father Ian set up an offshore investment fund in the country more than 30 years ago.

Mr Cameron eventually admitted he as his wife had sold £30,000-worth of units in the fund shortly before he became Prime Minister, netting them a profit of £19,000.

Amid mounting pressure over his financial arrangements, he also became the first Prime Minister to publish his tax returns yesterday.

They showed that Mr Cameron had received a £200,000 gift from his mother in 2011, meaning he will avoid having to pay inheritance tax on it if she lives until 2018.

Earlier today, the Prime Minister’s spokeswoman said: "When it comes to publishing tax returns, the Prime Minister has made clear that he was willing to be transparent and it's right for potential Prime Ministers to also do so.

"With regard to who is in charge of the nation's finances, the Prime Minister takes the view that Chancellors and Shadow Chancellors should show transparency too, but he's not recommending it for other MPs."

Mr Corbyn's tax return can be seen below.