Skip to main content
Toggle search
Menu toggle

Careless versus deliberate tax errors

When the former chancellor paid a tax penalty this raised questions about the meaning of HMRC's position on deliberate and careless errors, and whether it could have been resolved between the two parties, explain Danielle Ford, director and Riocard Hoye, senior manager at haysmacintyre

  As widely reported, Nadhim Zahawi, the former Chancellor, reached a settlement with HMRC, leading to him losing his job as Conservative Party chair. The HMRC settlement was in respect of undeclared capital gains tax relating to disposals of shares in YouGov, the polling company which was co-founded by Zahawi in May 2000. The settlement amount is unknown but is believed to be in the region of £5m including a 30% penalty.

Careless penalties

Your free features:

  • Breaking news and expert analysis
  • Customisable daily newsletters
  • Six free CPD learning modules each year
  • Personalised CPD tracker
  • Top 75 Firms league tables
  • Regulatory changes
  • Hardman’s Tax Data

Sign up to Business & Accountancy Daily

Related Articles
Subscribe