Rishi Sunak is facing calls to explain what he knew about the former UK chancellor’s tax affairs. We explain what the story is about
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The story of Nadhim Zahawi’s taxes has been rumbling on for months; now it may have finally come to a head.
After the Guardian revealed on Friday that Zahawi’s settlement of an HMRC tax bill worth millions included a seven-figure penalty, the Conservative party chairman and former chancellor gave his version of events – and said that his error was “careless and not deliberate”.
Did the work done by Zahawi’s father at YouGov’s founding truly merit such a large proportion of the initial shares?
Was the trust really controlled by Zahawi’s parents, or was the true beneficiary of the sale of Balshore’s shares in YouGov Zahawi himself?
Did Zahawi thus avoid paying capital gains tax on the sale of Balshore’s stake?
Did Zahawi give HM Revenue and Customs (HMRC) a straightforward account of his affairs when it came to investigate?
Continue reading...from The Guardian https://ift.tt/OUb1k78
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