Know how Conservative Party Chairman Nadim Zahavi got stuck in tax evasion? Rishi Sunak sacked
PM Rishi Sunak on Sunday sacked Nadim Zahawi, chairman of the Conservative Party. Nadim Zahavi is accused of tax manipulation.
oi-Sanjay Kumar Jha
In the UK, PM Rishi Sunak on Sunday sacked Conservative Party President Nadim Zahawi. Nadim Zahavi is accused of tax manipulation. PM Sunak has publicly written a letter informing about his decision to remove Nadim from office. In it, he has said that the government had initiated an inquiry against Nadeem, in which he was found to have seriously violated the ministerial code, after which it was decided to remove him.
Sunak had ordered an inquiry
Sunak ordered his independent adviser, Laurie Magnus, to investigate allegations of tax fraud against Zahavi, who was briefly finance minister during Britain’s political turmoil last year. It emerged two weeks ago that Zahavi had paid a $5.96 million fine to HMRC as part of a settlement for unpaid tax while he was chancellor. It was then alleged that Zahavi had not made public the dispute with the tax authorities.
Years old mistake now open
According to a BBC report, Nadim Zahavi is alleged to have told his father all the shares he had in an opinion polling firm named YouGov. By doing this, he avoided paying tax but his mistake was caught by the tax authorities during his appointment as finance minister last year. When this was revealed, there was an earthquake in the politics of Britain and PM Rishi Sunak was forced to sack him.
here’s the whole thing
Nadeem Zahavi co-founded YouGov in 2000. It became a public company in 2005. Zahavi was chief executive of the polling company until 2010, at which time he was elected for Stratford-upon-Avon in the general election. On 5 July 2022, Zahavi became chancellor under then PM Liz Truss. During the same period Zahavi entered into a multi-million pound tax settlement with HMRC relating to shares in YouGov. On 25 October 2022, the new Prime Minister Sunak appointed Zahavi as the chairman of the Conservative Party. It is unclear how much he knew about Zahavi’s tax issues at the time. The opposition is alleging that Sunak knew.
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Conservative Party Chairman Nadim Zahavi caught in tax dispute, sacked by PM Rishi Sunak
Story first published: Sunday, January 29, 2023, 18:15 [IST]