LONDON: Almost a year after he was declared bankrupt by a UK court, Hasan Nawaz, the son of former prime minister Nawaz Sharif, was included on a list of \u201cdeliberate tax defaulters\u201d by the UK government.<\/p>\n
The list, which was published on Tuesday, features the names of scores of individuals and companies that the HM Revenue & Customs (HMRC) has issued penalties to for either making deliberate errors in their tax returns or then deliberately failing to comply with their tax obligations.<\/p>\n
Hasan Nawaz\u2019s name is the second in the list, which appears to be organised in descending order of penalties and tax owed to the UK government. It identifies Hasan Nawaz as a property developer, with listed addresses at Avenfield House as well as 1 Hyde Park Place \u2014 the property at the centre of the National Crime Agency\u2019s 2019 landmark \u00a3190 million settlement with property tycoon Malik Riaz. Land records show Hasan Nawaz bought the property for \u00a342m in 2016, with family sources saying it was sold the same year.<\/p>\n
The period of default for Hasan Nawaz is identified as April 6, 2015 to April 5, 2016. He owes \u00a39.3m in taxes, with a penalty of \u00a35.2m.<\/p>\n
The UK government\u2019s policy of \u2018publishing det\u00adails of deliberate defaulters\u2019 (PDDD) is aimed at reducing the incidence of deliberate defaulting. An individual\u2019s name is incl\u00aduded on the publication list if their amount of tax default exceeds \u00a325,000.<\/p>\n
In a 2018 report, the HRMC noted, \u201cWe believe that the possibility of having their details published will deter people from becoming deliberate defa\u00adulters. We also believe that it will encourage deliberate defaulters to come forward and put their tax affairs in order. By coming forward, deliberate defaulters may be able to avoid having their details published.\u201d<\/p>\n
Interestingly at the time, the report also said that due to a very limited awareness of publication, PDDD was \u201cnot seen as an effective deterrent against defaulting on tax obligations\u201d.<\/p>\n
\u201cIn terms of perceived impact, it was not expected to have any adverse effect on individuals. Some felt it may affect the willingness of people to deal with businesses whose details have been published, if the list and its purpose was more widely publicised,\u201d it said.<\/p>\n
In April 2024, Hasan Nawaz was declared bankrupt by the High Court of Justice. According to official records, the bankruptcy petition was filed on Aug 25, 2023, by the HMRC over unpaid liabilities. The bankruptcy order was issued on April 29, 2024, following a creditor\u2019s petition.<\/p>\n
The HMRC, which frequently files such petitions, initiated the action through its Contracts Man\u00ad\u00adagement Team in Liverpool.<\/p>\n","protected":false},"excerpt":{"rendered":"
LONDON: Almost a year after he was declared bankrupt by a UK court, Hasan Nawaz, the son of former prime minister Nawaz Sharif, was included on a list of \u201cdeliberate tax defaulters\u201d by the UK government. The list, which was published on Tuesday, features the names of scores of individuals and companies that the HM […]<\/p>\n","protected":false},"author":1,"featured_media":7070,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[],"class_list":["post-7069","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national-news"],"_links":{"self":[{"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/posts\/7069","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7069"}],"version-history":[{"count":1,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/posts\/7069\/revisions"}],"predecessor-version":[{"id":7071,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/posts\/7069\/revisions\/7071"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/media\/7070"}],"wp:attachment":[{"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7069"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7069"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7069"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}