Would You like a feature Interview?
All Interviews are 100% FREE of Charge
Rishi Sunak has launched a tax probe into Conservative Party chairman Nadhim Zahawi as he struggles to keep his job.
Zahawi will continue to serve as party leader and minister while the investigation is ongoing.
The minister admitted he made a mistake with his taxes and paid HMRC an estimated £5million.The dispute was settled last summer when he was prime minister. Sunak is understood to have been unaware of the details when he appointed Zahawi to the cabinet.
How much is Nadim Zahawi Net Worth?
A member of Parliament for Stratford-on-Avon since 2010, Mr Zahawi is considered one of the richest people in the House of Commons.
Before entering politics, Zahawi co-founded YouGov, an online market research firm, where he served as CEO until February 2010.
He owns a massive real estate empire with his wife Lana and is believed to share a net worth of between £30million and £100million.
Their properties include a country house with stables, a £20 million London townhouse and an industrial estate.
mirror Previously, Mr Zahawi revealed that more than half of his property had been purchased while he was government minister, and that seven of the properties bought for over £10m had no mortgage.
Through a company called Zahawi & Zahawi Ltd, Zahawi owns £18 million worth of land in the West Midlands, where the Asda megastore is located. She also owns her £3.5 million Channel Her Channel industrial estate near Channel Her Tunnel in Ashford, Kent.
The couple are believed to own five private properties. There were three in London, one in Warwickshire near the constituency, and another she in Dubai.
In 2013, Mr Zahawi was found to have charged £5,882 for utilities, including heating the stables at his riding school and the yard manager’s trailer.
He said this was a mistake and refunded the amount.
What does Nadim Zahawi say about his taxes?
Zahawi, who is paid by taxpayers, said in a statement on Saturday that HMRC “did not agree on the exact allocation” of YouGov’s shares held by him and his father.
He added: I decided to settle the matter and pay what they owed so I could focus on my civil service life. ”
The prime minister has asked his independent adviser on ministerial interests, Sir Laurie Magnus, to launch an inquiry into Mr Zahawy.
In a statement, Zahawi said:I look forward to explaining the facts of this matter Sir Laurie Magnus [independent adviser on ministers’ interests] and his team.
“I am confident that I have acted appropriately throughout and look forward to answering any specific questions in a formal manner to Lord Raleigh.
“In order to ensure the independence of this process, I will continue my duties as Chairman of the Conservative Union Party, so please understand that it is inappropriate to discuss this issue further.”
“Honesty and accountability are very important to me, and there are clearly questions that need to be answered in this case,” Sunak told reporters.
“Therefore, the Independent Advisor has been asked to thoroughly investigate this matter and provide me with advice on compliance with Nadim Zahawi’s Ministerial Decree, on which basis he will determine the appropriate next steps.”