Politics

Why is everyone annoyed with Nadhim Zahawi?

'Step back a second': Nadhim Zahawi and Adil Ray clash over Johnson …

Nadhim Zahawi is dominating social media discourse again after a tax row.

According to sources reportedly speaking to the Sun on Sunday, the former chancellor has agreed to pay several million pounds in tax to the authorities after a dispute over his use of an offshore company to hold shares in the polling firm YouGov.

The more than £20m shares were held through Balshore Investments, a Gibraltar-registered family trust, from which he has previously denied benefiting, and sold by 2018 to an unknown recipient.

Tax Policy Associates, a thinktank, has estimated that Balshore’s sale of YouGov shares should have incurred capital gains tax of about £3.7m.

Asked whether Zahawi was paying millions to HM Revenue and Customs, his spokesperson told the publication: “As he has previously stated, Mr Zahawi’s taxes are properly declared and paid in the UK. He is proud to have built a British business that has become successful around the world.”

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A spokesperson for Zahawi said last summer that the senior Conservative was not aware of any investigation by HMRC.

People reacted to the news on Twitter, and they weren't pleased:


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