Akshata Murty’s non-dom tax status has deprived the British taxpayer of untold millions over the years in untaxed dividends from her father’s conglomerate, Infosys. What’s less appreciated is how firms in which the chancellor’s wife has involved herself have gone under, leaving a staggering £30m in unpaid bills.
Murty’s reverse Midas touch was most evident with Digme Fitness, the failed upmarket gym group where she served as a director and in which she held a 4.4% stake. Analysis of its statement of affairs shows unpaid bills to London councils amounting to £55,151. The money owed to the City of London, Ealing, Camden and Richmond councils comes on top of the £415,000 owed to HMRC in respect of employee taxes.
Another firm, publishing outfit Mrs Wordsmith, counted Murty’s investment company, Catamaran Ventures UK, among its backers. The curse of Murty struck in September last year when it went under. HMRC this time was owed £249,166 in employee taxes, Hammersmith & Fulham Council £63,738. The Future Fund – an investment initiative, run by the British Business Bank, was left £1.3m out of pocket by backing this venture. The bills from her disastrous ventures are too numerous to mention.
There was also Lava Mayfair Club – Murty’s third investment to go belly up – which collapsed owing HMRC £373,900 in PAYE taxes.