Lessons Learned From U.K. Chancellor With U.S. Green CardLessons Learned From U.K. Chancellor With U.S. Green Card

The British press recently revealed that Rishi Sunak, the former No. 2 person in the British government, who’s been a Member of Parliament (MP) since 2015 and was Chancellor of the Exchequer (the U.S. equivalent of Secretary of the Treasury) from February 2020 until July 2022, held a U.S. green card until October 2021.¹ Sunak is now a candidate to succeed Boris Johnson as Conservative Party leader and the next Prime Minister of the United Kingdom. The press also disclosed that Sunak’s wife, Akshata Murty, had legitimately escaped U.K. taxes on millions of pound sterlings of overseas investment income. The story behind this discovery brings up these questions: What taxes should Sunak and Murty be paying, and are actions like these a tax e...