You need to be logged in to your Sky Poker account above to post discussions and comments.
You might need to refresh your page afterwards.
Zahawi urged to explain source of £26m mystery loans.
Shares in YouGov were allocated to Balshore Investments, based in Gibraltar.
https://www.msn.com/en-gb/news/uknews/zahawi-urged-to-explain-source-of-26m-mystery-loans/ar-AAZF1Rw?ocid=msedgntp&cvid=04d60d7cad9146f0ba43c408ca60f296
Comments
NZ was a shareholder, director and had significant control from at least 2010 until 9th January 2018. Almost certain that these transfers in the article will have been started pre- and completed on or after 9 Jan 2018.
He then relinquished various roles due to rules relating to Cabinet Members' Interests. In 1 sense, all that means is that his wife took over from him. But, at Law, she is a different legal person from him, and the Company is another separate legal person. Balshore yet another legal entity.
Balshore Investments? In 1 sense, he will not be a beneficiary. This will either be a Blind Trust, or (more likely) the beneficiaries will be his Wife and/or Wife/family.
The interesting bit is whether HMRC can show that at some point he was the owner of certain assets, and whether he should be paying tax on the Transfer, whether as a Gift or a Transfer at an Undervalue. Or whether there is a Secret (or Semi-Secret) Trust of which he is the true Beneficiary
Complex question. I certainly don't know the answer. But not a question that the Chancellor of the UK should have hanging over him.