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Careless.
Pressure grows on Nadhim Zahawi to reveal source of £30m loans to family property empire
https://www.msn.com/en-gb/money/companies/pressure-grows-on-nadhim-zahawi-to-reveal-source-of-30m-loans-to-family-property-empire/ar-AA16OuTw?ocid=msedgntp&cvid=ab81ea14a54d44d4bf23d7cba8354df5
https://www.msn.com/en-gb/money/companies/pressure-grows-on-nadhim-zahawi-to-reveal-source-of-30m-loans-to-family-property-empire/ar-AA16OuTw?ocid=msedgntp&cvid=ab81ea14a54d44d4bf23d7cba8354df5
Comments
1. "Careless" can mean more than 1 thing. It can mean failing to take adequate care. It can also mean Negligent. So-for example-if someone had a disputed tax bill, there would be 3 possible end outcomes. Deliberate/fraudulent-criminal matter. Careless/negligent-civil liability/penalty. Legal avoidance-no payment. The middle one is a compromise, where the possible criminal proceedings are abandoned in return for the payment of money
2. Loans to Companies from Directors. Sometimes this is legitimate. And sometimes this is fraud. Here's how the fraud works. You pretend to lend the Company (say) £1 million. Then you do not pay yourself £1 million in Salary/Drawings, which would involve paying nearly £400,000 in tax. You claim that the £1 million is repayment of a loan made to the Company. Thus evading income tax.