Former Conservative chancellor Nadhim Zahawi has agreed to pay HMRC several million pounds in tax.
He used of an offshore company to hold shares in the polling firm YouGov, according to the Sun on Sunday.
Former Countdown maths genius Carol Voderman was quick to call him out on social media.
Gibraltar
His shares were held through Balshore Investments, a Gibraltar-registered family trust, from which he has previously denied benefiting.
The stake in YouGov was worth more than £20m and was sold by 2018, with the proceeds transferred 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.
His spokesperson said: “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.”
Voderman
Voderman tweeted: :”NADHIM ZAHAWI THREATENED @danneidle TO STOP HIM PUBLISHING CORRECT ANALYSIS OF ZAHAWI’S DODGY TAX POSITION In Dec, Dan was threatened by Z’s lawyers and referred them to the Solicitors Regulator, Dan won, weeks later Zahawi now has to pay the tax. GO DAN.”
She was heaping praise on Dan Neidle founder of Tax Policy Associates Ltd. Dan stodd up to legal threats to push on with his claim against Zahawi.
Reactions
Sympathy was in short supply for the former Chancellor.
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