Leader says ‘nothing hidden’ in tax storm

JEREMY Corbyn has insisted there is “nothing missing, nothing hidden” in his tax affairs, as Labour rejected allegations he failed to properly declare his income as Leader of the Opposition.

The party said it was confident the details of Mr Corbyn’s tax return were in order after the leader faced questions over his earnings.

Details released on the Labour leader’s website on Sunday said he earned £114,342 in 2015/16, on which he paid £35,298 in tax.

However, he faced questions as to why he only declared receiving £27,192 as Leader of the Opposition on top of his basic MP’s pay when the Government’s consolidated fund accounts showed he was paid £30,587.

Having initially been unable to explain the discrepancy, Labour said the difference was due to the deduction of a parliamentary pension contribution of £3,395.

A spokesman for Mr Corbyn said that the figure had appeared on the return as a “benefit” rather than as pay because that was how it was categorised by HM Revenue and Customs.

“This figure is calculated after deducting the waivers Jeremy has made of earlier increases to the benefit. These waivers were also made by his predecessor, Ed Miliband,” the spokesman said.

“We are disappointed the Cabinet Office did not clarify this and explain the figure used on the P60 yesterday in answer to media inquiries they received.”

Earlier, Mr Corbyn said in a statement: “Transparency invites scrutiny. I welcome it, as should all those seeking highest office. My taxes (are) fully paid, nothing missing, nothing hidden.”