Embattled Tory party chair reveals he made ‘careless but not deliberate’ error over multimillion-pound share sale
. In an attempt to protect Sunak, Zahawi added: “When I was appointed by the prime minister, all my tax affairs were up to date.”
Zahawi faced scrutiny on a tranche of shares in YouGov, the polling company he co-founded, which were held by a, and sold for about £27m between 2006 and 2018. It was estimated by the thinktank Tax Policy Associates he may have avoided £3.7m capital gains tax on the sale of these shares. Zahawi has still not disclosed the size of the HMRC settlement or confirmed he paid a penalty. It follows aUnlike his YouGov co-founder, Stephan Shakespeare, Zahawi took no shares in YouGov. However, a 42.5% shareholding was held by Balshore Investments, an offshore trust controlled by Zahawi’s parents. As YouGov grew in value, Balshore sold all the shares by 2018.
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