FORMER Chancellor Nadhim Zahawi has agreed to pay several million in tax after scrutiny of his family’s financial affairs.
Sources said his representatives will stump up the seven-figure sum to settle a dispute with HMRC.
It comes after questions were asked over whether the mega-rich Tory chairman, 55, avoided tax by using an offshore company to hold shares in YouGov — the polling company he co-founded.
His family trust, Gibraltar-registered Balshore Investments, held a stake worth more than £20million but sold up by 2018.
Mr Zahawi has said he was not a beneficiary of the trust but records show money he owed to YouGov was partly repaid from Balshore dividends.
Think-tank Tax Policy has estimated that Balshore’s sale of YouGov shares should have incurred capital gains tax of around £3.7million.
A spokesman for Mr Zahawi said last summer that his taxes were fully paid and he was not aware of any investigation.
Mr Zahawi, who ran for the Tory leadership last year, said later that he would provide full information to any queries that HMRC had about his tax affairs.
The MP, who gave up a lucrative job as a director with Gulf Keystone Petroleum in 2018, pledged to publish his future tax returns, but critics said the key questions were linked to his past.
A spokesman for Mr Zahawi, who is worth more than £100million, said he had “never had to instruct any lawyers to deal with HMRC on his behalf”.
They added: “As he has previously stated, his taxes are properly declared and paid in the UK.”
HMRC said: “We cannot comment on identifiable taxpayers.”
Why should politicians be expected to be honest when there’s no consequences for being caught doing the wrong thing
*Agrees*! I’m sure the taxman would be so accomodating to the rest of us…
Surprised he did not take a low dig at labour or the EU.
I wonder what will happen if I under declare last years dividends?
‘Agrees’ to pay tax. Like it’s an option for these people.
“Agrees”; essentially caught tax evading but no punishment because he’s rich and powerful?
Still can’t believe he was stupid enough to run for Tory leader when he had such massive tax skeletons in his closet lol
He’s “agreed”, that’s nice
About 20 years ago HMRC raided my company, seized everything, all stock and computers etc and accused us of a massive VAT and tax fraud.
We shelled out a shit load for lawyers fighting almost daily to point out we were not the company they they thought we were and had no connection at all to who they were after.
6 months later they returned it all, dropped the case and didn’t even say sorry.
They had the wrong company all along. That 6 months of losses, cash out for new stock and new equipment etc put us out of business about 5 months later because we just couldn’t survive having taken such a hit. Lawyer’s basically said forget about going after them, your a small business and it’s HMRC. You’ll be personally bankrupt before you win let alone the business being bankrupt. You’ll win eventually but it will cost you everything was the basic conclusion they gave us.
It’s always lovely to see how huge tax cheats and the rich get to have nice conversations and come to agreements with HMRC. I doubt they raided yougov and shut it down during these conversations or seized all his equipment for other businesses etc.
Always the same with HMRC, massively underfunded deliberately so that they can only afford to hound individual’s and small businesses while the rich negotiate settlements sometime over multiple years, looking at you Vodafone!
Should be out of a job too, all ready claimed enough from the tax payer’s and doesnt put back what he’s due ( tory scum ).
Just remember that his tax dodging afforded him the ability to accrue assets the profit of which is now paying back the tax.
Now wouldn’t it be nice if the government would allow everyone to defer taxes so they could invest in assets with which to pay back the tax!
Let’s be honest, we all know he’s as bent as two bob watch! Let’s have him jailed…
Nicer than him just declaring bankruptcy and dodging it, like the other Tory MP.
The Tories, including this shit rag if a tabloid complain that if Labour get in there will be an exodus out of the UK of parasites like this.
Wow so kind of him. Should be bring tax evasion charges against the bstrds.
Nice another former Chancellor mired in tax fraud scandals. This one who is also the boss of the country’s leading polling company.
Again baffles me how kid-gloves the media is with the Tories on shit like this. If it were Labour the entire institution of YouGov would now be coming under great scrutiny.
I hope this financial penalty doesn’t mean his horses might have to go cold again!
The saddest thing here is that people will still vote in the slimey cunt
This must of been why he had his nose so far up Boris’s arse,he talked any old shit to back boris
Is it not unreal to people that a politician on an £80k salary can pay a 7 figure HMRC bill?
These people should be jailed for evasion and not be given the option to “agree”.
We need a law in the UK that if yoh are caught evading tax then you have to pay 10x the amount evaded.
Fix the problem over night.
He is as shady as they come. This is the man that charged UK taxpayers to hear his horses stables. He should have been kicked out of politics for that alone. Repulsive Tory reptile!
This is the same wanker that claimed expenses so his fucking stables could be heated. Vote the cunts out!
Can I agree not to pay tax? Didn’t know this was an option, could have opted out all along, egg on my face I’ve been paying it like a fool.
If Nadhim Zahawi has been caught red handed committing a crime is it not the case that the relevant authorities should be prosecute him? Or because he has agreed to pay, after being caught, do we just assume that he has not committed a crime? He, along with any other ministers caught breaking the law should be prosecuted & given the highest possible sentences that the law allows…
He should be prosecuted for it, especially since he had his lawyers threatening to sue anybody who accused him of it at the time.
Why do you think want to become MPs? Because of the scams they can all pull & jobs for the boys/girls, sickening, not just Tories, all of them.
Every single one of them is corrupt and rotten to the core. We’re no better than russia.
i know nothing of this specific situation however i would stake a body part that this means he is paying up this amount to ensure all of the other fraudulent activities are not dug up ….” oh you think i owe 4 million …yeah sure thats probably about right ” + still has 60 million in untaxed bahamas account
Another Tory ‘patriot’ caught offshoring his wealth to avoid paying into the UK system – why do we let these traitors rule us exactly?
surely there must be one front bench minister that is there for their electorate alone..
Is there an argument to make all people’s tax public? I think people ratting on each other is the best way to get people to pay their tax. Also will help young people understand which job plays well.
And this guy was chosen to tell the rest of the country how to fucking budget. All politicians need to go. House of commons should be just that – filled with normal people chosen for a length of time like jury duty.
Why is this robbing cunt not in the dock? Thieving fucking scumbag.
Only the little people pay tax.
The likes of the Tories think they’re exempt.
Soooo, he admits to tax fraud?
Isn’t that like a punishable offence?
Let this not be the end. Someone who so readily coughs up millions has more to hide.
After he tried to have the accuser arrested.
What a lovely fella.
And this is the man who was in charge of our finances??
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FORMER Chancellor Nadhim Zahawi has agreed to pay several million in tax after scrutiny of his family’s financial affairs.
Sources said his representatives will stump up the seven-figure sum to settle a dispute with HMRC.
It comes after questions were asked over whether the mega-rich Tory chairman, 55, avoided tax by using an offshore company to hold shares in YouGov — the polling company he co-founded.
His family trust, Gibraltar-registered Balshore Investments, held a stake worth more than £20million but sold up by 2018.
Mr Zahawi has said he was not a beneficiary of the trust but records show money he owed to YouGov was partly repaid from Balshore dividends.
Think-tank Tax Policy has estimated that Balshore’s sale of YouGov shares should have incurred capital gains tax of around £3.7million.
A spokesman for Mr Zahawi said last summer that his taxes were fully paid and he was not aware of any investigation.
Mr Zahawi, who ran for the Tory leadership last year, said later that he would provide full information to any queries that HMRC had about his tax affairs.
The MP, who gave up a lucrative job as a director with Gulf Keystone Petroleum in 2018, pledged to publish his future tax returns, but critics said the key questions were linked to his past.
A spokesman for Mr Zahawi, who is worth more than £100million, said he had “never had to instruct any lawyers to deal with HMRC on his behalf”.
They added: “As he has previously stated, his taxes are properly declared and paid in the UK.”
HMRC said: “We cannot comment on identifiable taxpayers.”
Why should politicians be expected to be honest when there’s no consequences for being caught doing the wrong thing
*Agrees*! I’m sure the taxman would be so accomodating to the rest of us…
Surprised he did not take a low dig at labour or the EU.
I wonder what will happen if I under declare last years dividends?
‘Agrees’ to pay tax. Like it’s an option for these people.
“Agrees”; essentially caught tax evading but no punishment because he’s rich and powerful?
Still can’t believe he was stupid enough to run for Tory leader when he had such massive tax skeletons in his closet lol
He’s “agreed”, that’s nice
About 20 years ago HMRC raided my company, seized everything, all stock and computers etc and accused us of a massive VAT and tax fraud.
We shelled out a shit load for lawyers fighting almost daily to point out we were not the company they they thought we were and had no connection at all to who they were after.
6 months later they returned it all, dropped the case and didn’t even say sorry.
They had the wrong company all along. That 6 months of losses, cash out for new stock and new equipment etc put us out of business about 5 months later because we just couldn’t survive having taken such a hit. Lawyer’s basically said forget about going after them, your a small business and it’s HMRC. You’ll be personally bankrupt before you win let alone the business being bankrupt. You’ll win eventually but it will cost you everything was the basic conclusion they gave us.
It’s always lovely to see how huge tax cheats and the rich get to have nice conversations and come to agreements with HMRC. I doubt they raided yougov and shut it down during these conversations or seized all his equipment for other businesses etc.
Always the same with HMRC, massively underfunded deliberately so that they can only afford to hound individual’s and small businesses while the rich negotiate settlements sometime over multiple years, looking at you Vodafone!
Should be out of a job too, all ready claimed enough from the tax payer’s and doesnt put back what he’s due ( tory scum ).
Just remember that his tax dodging afforded him the ability to accrue assets the profit of which is now paying back the tax.
Now wouldn’t it be nice if the government would allow everyone to defer taxes so they could invest in assets with which to pay back the tax!
Let’s be honest, we all know he’s as bent as two bob watch! Let’s have him jailed…
Nicer than him just declaring bankruptcy and dodging it, like the other Tory MP.
The Tories, including this shit rag if a tabloid complain that if Labour get in there will be an exodus out of the UK of parasites like this.
This isn’t a good look either…
https://www.youtube.com/watch?v=7zjwLfjBpnI
Wow so kind of him. Should be bring tax evasion charges against the bstrds.
Nice another former Chancellor mired in tax fraud scandals. This one who is also the boss of the country’s leading polling company.
Again baffles me how kid-gloves the media is with the Tories on shit like this. If it were Labour the entire institution of YouGov would now be coming under great scrutiny.
I hope this financial penalty doesn’t mean his horses might have to go cold again!
The saddest thing here is that people will still vote in the slimey cunt
This must of been why he had his nose so far up Boris’s arse,he talked any old shit to back boris
Is it not unreal to people that a politician on an £80k salary can pay a 7 figure HMRC bill?
These people should be jailed for evasion and not be given the option to “agree”.
We need a law in the UK that if yoh are caught evading tax then you have to pay 10x the amount evaded.
Fix the problem over night.
He is as shady as they come. This is the man that charged UK taxpayers to hear his horses stables. He should have been kicked out of politics for that alone. Repulsive Tory reptile!
This is the same wanker that claimed expenses so his fucking stables could be heated. Vote the cunts out!
Can I agree not to pay tax? Didn’t know this was an option, could have opted out all along, egg on my face I’ve been paying it like a fool.
If Nadhim Zahawi has been caught red handed committing a crime is it not the case that the relevant authorities should be prosecute him? Or because he has agreed to pay, after being caught, do we just assume that he has not committed a crime? He, along with any other ministers caught breaking the law should be prosecuted & given the highest possible sentences that the law allows…
He should be prosecuted for it, especially since he had his lawyers threatening to sue anybody who accused him of it at the time.
Why do you think want to become MPs? Because of the scams they can all pull & jobs for the boys/girls, sickening, not just Tories, all of them.
Every single one of them is corrupt and rotten to the core. We’re no better than russia.
i know nothing of this specific situation however i would stake a body part that this means he is paying up this amount to ensure all of the other fraudulent activities are not dug up ….” oh you think i owe 4 million …yeah sure thats probably about right ” + still has 60 million in untaxed bahamas account
Another Tory ‘patriot’ caught offshoring his wealth to avoid paying into the UK system – why do we let these traitors rule us exactly?
surely there must be one front bench minister that is there for their electorate alone..
Is there an argument to make all people’s tax public? I think people ratting on each other is the best way to get people to pay their tax. Also will help young people understand which job plays well.
And this guy was chosen to tell the rest of the country how to fucking budget. All politicians need to go. House of commons should be just that – filled with normal people chosen for a length of time like jury duty.
Why is this robbing cunt not in the dock? Thieving fucking scumbag.
Only the little people pay tax.
The likes of the Tories think they’re exempt.
Soooo, he admits to tax fraud?
Isn’t that like a punishable offence?
Let this not be the end. Someone who so readily coughs up millions has more to hide.
After he tried to have the accuser arrested.
What a lovely fella.
And this is the man who was in charge of our finances??