Nadim Zahawi hits back at HMRC probe 'smear'

‘I will not apologise for being a successful businessman’: Nadim Zahawi hits back at HMRC probe ‘smear’

• Chancellor forced to back at reports his tax affairs are being probed by HMRC
• Tory leadership hopeful Zahawi said he will ‘not apologise for being successful’
• It came after Sajid Javid called on candidates to be ‘open’ in dig at wealthy rivals
• Mr Zahawi, worth around £100million, vowed to publish accounts if elected PM 

Nadhim Zahawi has hit back at allegations he is being investigated over his financial affairs, saying he was ‘clearly being smeared’ after launching his Tory leadership bid.

HM Revenue & Customs (HMRC) is reportedly probing the new Chancellor’s tax affairs after civil servants raised a red ‘flag’.

But last night the 55-year-old, who founded polling firm YouGov, denied the claims and said he will ‘not apologise for being a successful businessman’.

Mr Zahawi, pictured outside the Treasury last week, denied that HMRC is probing his accounts

It came after Sajid Javid said that leadership candidates should be ‘open’ about their tax affairs if they wanted to become Prime Minister – in an apparent dig at his wealthy rivals.

Commenting on the allegations, Mr Zahawi told Sky News: ‘I was clearly being smeared. I was being told that the Serious Fraud Office, the National Crime Agency and HMRC are looking into me. I’m not aware of this. I have always delivered my taxes and paid my taxes in the UK.’

The former businessman, who is rumoured to be worth about £100million, added: ‘I will answer any questions HMRC have of me. But I will go further. I’m going to make a commitment that if I’m PM I think the right thing to do is publish my accounts annually.’

In a full statement, he said: ‘I have only been resident of one country since arriving in the UK as an 11 year old. I have never sought tax status in any country other than the UK.

‘I’ve answered these supposed allegations because I think the right thing to do is to be transparent. I have corrected the record. I trust these smears will now be seen for exactly what they are.

‘I do not apologise for being a successful businessman. I am the beneficiary of the British dream and I know that. I have done well by investing in the UK and I think that’s something which should be celebrated. I want everybody to have the opportunity to be successful.’

He added: ‘When a country gives you as much as it has given me, you can never truly repay it. But I will do everything in my power to try.’

HMRC declined to comment on the alleged investigation as the authority does not go into the details of individual taxpayers.

Mr Zahawi’s business history has come under increased scrutiny since his appointment as Chancellor last week in Mr Johnson’s tumultuous Cabinet collapse.

He accepted the job as Chancellor after Rishi Sunak resigned from the post citing concerns over Mr Johnson’s handling of the cost-of-living crisis and numerous political scandals.

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