In response to claims that he is under investigation for his financial dealings, Nadhim Zahawi said he was ‘obviously being smeared’ after announcing his quest for the Tory leadership.
Following a “flag” raised by civil officials, HM Revenue & Customs (HMRC) is apparently looking into the tax affairs of the next chancellor.
The 55-year-old, who created the polling company YouGov, refuted the allegations yesterday night and vowed to “not apologise for being a successful businessman.”
It followed Sajid Javid’s apparent jab at his affluent competitors, who suggested that leadership hopefuls should be “transparent” about their tax affairs if they wanted to become Prime Minister.
Mr. Zahawi responded to the accusations by saying to Sky News: “I was obviously being maligned.
“I was informed that I am under investigation by the Serious Fraud Office, the National Crime Agency, and HMRC.
I don’t know about this. I’ve always paid and delivered my taxes to the UK.
The former businessman, whose estimated net worth is £100 million, continued, “I will respond to any inquiries HMRC may have.
“But I’ll continue on. If I become prime minister, I’m going to swear to publish my financial statements once a year.
In a detailed declaration, he claimed: “I have only lived in one nation since coming to the UK when I was 11 years old.
I’ve never applied for tax status anywhere other than the UK.
I responded to these alleged accusations because I believe it is morally appropriate to be open and honest.
I’ve updated the records.
I have faith that now these smears will be exposed for what they truly are.
“I make no excuses for being a prosperous businessman. I am a success story of the British ideal, and I am aware of it.
I believe that it is appropriate to celebrate my success in the UK investments.
I want everyone to be given the chance to succeed.
“You can never properly repay a country when it offers you as much as it has given me,” he continued.
However, I’ll make every effort to attempt.
Since the authority does not discuss specific taxpayers, HMRC declined to comment on the reported probe.
Since being named Chancellor last week in Mr. Johnson’s turbulent Cabinet collapse, Mr. Zahawi’s business past has come under heightened scrutiny.
After Rishi Sunak resigned from the position of Chancellor due to concerns about Mr. Johnson’s handling of the cost-of-living crisis and other political scandals, he accepted the position.