(The Guardian) The Tory party chair, Nadhim Zahawi, has said HMRC concluded his tax errors were “careless and not deliberate” after reports that he paid a penalty as part of a multimillion-pound settlement.
The former chancellor, who still attends Rishi Sunak’s cabinet, released a statement to “address some of the confusion about my finances” after it emerged he had agreed to pay millions to the tax agency in December.
Zahawi’s comments came after the Guardian reported he had paid a 30% penalty as part of an estimated total tax bill of almost £5m.
He said: “As a senior politician I know that scrutiny and propriety are important parts of public life. Twenty-two years ago I co-founded a company called YouGov.
“I’m incredibly proud of what we achieved. It is an amazing business that has employed thousands of people and provides a world-beating service.
“When we set it up, I didn’t have the money or the expertise to go it alone. So I asked my father to help. In the process, he took founder shares in the business in exchange for some capital and his invaluable guidance.