Connect with us

Hi, what are you looking for?

Editor’s Pick

HMRC say that Nadhim Zahawi’s tax error wasn’t innocent mistake

<?xml encoding=”utf-8″ ??>

Nadhim Zahawi did not make an “innocent error” in his tax affairs, the head of HM Revenue & Customs has suggested.

The Conservative Party chairman says HMRC told him he had made a “careless but not deliberate error” that led to a settlement of about £5 million, including a significant fine, when he was chancellor.

Jim Harra, chief executive of HMRC, made clear that being “careless” did not mean someone had made a simple mistake.

“Carelessness is a concept in tax law,” he told MPs on the public accounts committee. “It can be relevant to how many back years we assess. It can be relevant to whether someone is liable to a penalty. There are no penalties for innocent errors in your tax affairs.

“If you take reasonable care but nevertheless make a mistake, you would be liable for the tax and interest if it’s paid late. You would not be liable for a penalty, but if your error was as a result of carelessness then legislation says a penalty applies in those circumstances.”

Rishi Sunak will gather ministers today at Chequers, his grace-and-favour home in Buckinghamshire, for a cabinet awayday to discuss progress on his five pledges, which include restoring economic competence and tackling NHS waiting lists.

Isaac Levido, a senior adviser, will give a presentation but Zahawi is not expected to play a significant role.

Levido believes that there is a “narrow path” to victory with opinion polls putting Labour more than 20 points ahead since last summer. He believes Labour’s lead is stronger than it looks and internal polling suggests that the Tories have regained their lead on economic competence.

Sunak is said to be “livid” with Zahawi after he admitted at the weekend to paying a penalty for tax avoidance. He has asked Sir Laurie Magnus, the independent adviser on ministers’ interests, to investigate Zahawi. Magnus is expected to report within two or three weeks.

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



THE PHILIPPINE government should take time to study the transport modernization program and execute it properly rather than rush the whole process, according to...


OJ SERRANO-UNSPLASH Shinagawa Healthcare Solutions Corp. is preparing to open a diagnostic and preventive care center in Bonifacio Global City (BGC) next month, the...


PHILIPPINE STAR/ KRIZ JOHN ROSALES The Philippine government is planning to launch a retail dollar bond offering next month, Finance Secretary Benjamin E. Diokno...


PHILSTAR Fisherfolk, farmers, children, and individuals residing in rural areas remained the poorest sectors in 2021, according to the Philippine Statistics Authority (PSA). Preliminary...

Editor’s Pick

<?xml encoding=”utf-8″ ??> Ten construction firms have been fined a combined £60m by the competition regulator for “illegally colluding” to rig bids for lucrative...

Editor’s Pick

<?xml encoding=”utf-8″ ??> Just 1% of the estimated £1.1bn lost from the government’s Covid business support programme in England as a result of fraud...

You May Also Like


COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...


REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...


BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...


KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...

Disclaimer: Respect, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.