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Jun 11, 2024
Analysis
Our take on the Conservative manifesto
The Conservative manifesto is here, and an accompanying costings document is here. It proposes £6bn of tax cuts in 2024/25, rising to £17bn in 2029/30. The tax cut figures appear realistic; the question is whether they are affordable. But the bigger question is why the manifesto is almost completely silent on tax reform, when so […]
Jul 27, 2022
Investigations
Nine questions the Chancellor is ducking
I’m going to keep this as a running list of the key questions Nadhim Zahawi is ducking. Any one of the questions could be enough to justify an HMRC investigation. All of them together? And linked to the Chancellor of the Exchequer? Words fail me. And bland statements from Zahawi that he’s paid all his […]
Jul 22, 2022
Investigations
The Chancellor’s secret libel letters
The Chancellor of the Exchequer, Nadhim Zahawi, has been sending threatening letters, drafted by expensive lawyers, to people investigating his tax affairs. The letters are designed to intimidate, and say they are confidential and can’t be published. One was sent to me. I am publishing it. Update: The Times has the story here. For those […]
Jul 22, 2022
Investigations
The Channel 4 News report on Sunak’s fund management
Last night, Channel 4 News reported that Sunak had received payments from a tax haven. My view: Sunak did nothing wrong, and the way Channel 4 reported this was unfair and misled viewers.
Jul 19, 2022
Investigations
Nine questions for Nadhim Zahawi
Nadhim Zahawi has provided a series of unsatisfactory answers about his tax affairs. At least two are provably false (and one I characterised as a “lie” – something I do not do lightly). Another answer is, in my judgment, probably false. This is a list of the nine outstanding questions, some of which are very […]
Jul 14, 2022
Investigations
Did Jeremy Hunt avoid tax on his £15m payout from the sale of Hotcourses?
No. No, he didn’t.
Jul 13, 2022
Investigations
Did Nadhim Zahawi’s family trust provide any capital for its 45% founder stake in YouGov?
Nadhim Zahawi founded YouGov, but took no shares in it. A Gibraltar company, Balshore Investments, did instead. Zahawi says this wasn’t tax avoidance, but was his father injecting capital into the business. Is there any evidence for that?
Jul 10, 2022
Investigations
Did Nadhim Zahawi use an offshore trust to avoid almost £4m of capital gains tax?
I’ve used information in the public domain, my tax expertise, and input from other tax experts, to try to “reverse-engineer” Zahawi’s tax and corporate planning.
Jul 10, 2022
Investigations
Are the Sunaks using an offshore trust to avoid £m in UK tax?
Until we get clear answers, it’s reasonable to assume the Sunaks are using an offshore trust to avoid £100m+ of tax.
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