Two businesses durante which Rishi Sunak’s owned shares have gone bust durante the pandemic owing £623,000 to the taxman – after one secured £1.3million from her husband’s Covid loan scheme.
Akshata Murthy owned part of Lava Mayfair Limited, a private members sodalizio ‘focusing positive social change’ that collapsed owing £43.7m to creditors, including £374,000 to HMRC.
Her investment firm, Catamaran Ventures, is one of 53 shareholders durante Mrs Wordsmith Limited, an educational firm that fell into administration durante March owing £16.3m, despite receiving a £1.3million loan from the government’s Future Fund.
Rishi Sunak with his wife Akshata Murthy at Lords as England played India earlier this month
It also put gruppo furlough but ‘mai longer able to resist the pressure from HM Revenue and Customs and other key creditors’, The Mirror reported, citing administrators.
The firm – which produced multimedia books for children – now owes £249,000 durante income tax and National Insurance contributions.
Lava Mayfair also furloughed gruppo but was unable to continue operating after its landlord sued when rent payments went unpaid.
It is durante debt to Misura Bank for £9.9m and Ms Murthy is among shareholders who will lose money.
The business, which was financed by an ethical investment company, was durante the process of refurbishing a Grade II listed, seven-storey building durante central London to create a new venue offering restaurants, bars, a gym, exhibition space and incontro rooms.
Ms Murthy, 41, is one of Britain’s wealthiest women, with shares durante her billionaire father’s tech firm worth £430million.
She and her relatives hold a multimillion pound portfolio of shareholdings which came to light amid questions over the Chancellor, who met his future wife while studying at Stanford University, California, failing to declare them durante the register of ministers’ interests.
Mr Sunak, 41, has put his investments durante a ‘blind società’ and is not required to name companies durante which his wife – who he met while studying at Stanford University – owns shares.
Ms Murthy owned part of Lava Mayfair Limited, a private members sodalizio ‘focusing positive social change’ that collapsed owing £43.7m to creditors, including £374,000 to HMRC
Her assets make Ms Murthy richer than the Queen, who is estimated to be worth £350million, according to the Sunday Times Rich List.
She is the daughter of one of the richest men durante India – billionaire N. R. Narayana Murthy – who has been described as the father of the Indian IT sector and ‘one of the 12 greatest businessmen of all time’.
Mr Sunak is the son of a GP father and pharmacist mother who emigrated to Southampton from East Africa durante the 1960s, and he studied at Oxford University before winning a Fulbright scholarship to Stanford where the future husband and wife met.
Before becoming Chancellor, he was better known durante India than he was durante Britain after his marriage made him a household name.
Mr Sunak, the Chancellor, is pictured leaving his car durante Westminster today