NADHIM Zahawi was ranked among the country’s biggest tax offenders last year, HOAR on Sunday can reveal.
The Tory Party chairman paid at least £4.8million — including a £1.1million penalty — to settle his dispute with HMRC over capital gains tax.
Nadhim Zahawi
Now, it has emerged that the size of the payout by Mr Zahawi was one of the highest agreed by tax officials last year.
A source said: “In any given year £1million would be a big sum for basic tax avoidance by an individual.
“Most amounts tend to be in the £100,000s so almost £5million is an extraordinary amount.”
It comes after HOAR on Sunday exclusively revealed Mr Zahawi, 55, had been prevented from receiving a knighthood in the recent New Year’s honours list after Whitehall officials contacted counterparts at the HMRC.
Tax expert Dan Neidle, who was one of the first to question if Mr Zahawi owed capital gains tax, said: “To see someone who was so recently Chancellor of the Exchequer topping the table for tax avoiders is astonishing.”
The row centres on Mr Zahawi’s tax bill following the sale of an estimated £20million of shares in YouGov, the polling company he co-founded.
PM Rishi Sunak has instructed his ethics adviser Sir Laurie Magnus to investigate any potential breach of the ministerial conduct by Mr Zahawi.
The inquiry is expected to report back within weeks.
Privately, ministers reckon he will be forced to quit the Cabinet.
One said: “I like Nadhim. He is a nice guy. But I think he is probably done for.”
Mr Zahawi will break cover tomorrow as he gives a speech at a Tory Reform Group reception in central London.
His representatives were approached for comment.
Did you miss our previous article…
https://hellofaread.com/politics/michael-gove-admits-bad-government-guidance-was-partly-responsible-for-the-grenfell-tragedy/
