LONDON – Authorities in the United Kingdom imposed £5.2 Million penalty on Hassan Nawaz for unpaid taxes.
British government officially declared the son of former Prime Minister Nawaz Sharif and president of Pakistan Muslim League-Nawaz (PML-N), a tax defaulter. This announcement was made public on the government’s official website, listing him among individuals with outstanding tax liabilities.
The son of PML-N chief failed to pay £9.4 million in taxes during the fiscal year from April 5, 2015, to April 6, 2016. As a result, a penalty of £5.2 million has been levied against him.
UK authorities have officially named Hassan among the current deliberate tax defaulters. He is facing a tax default of £9.4 million, in addition to a £5.3 million penalty, bringing the total amount owed to £14.7 million.
Legal experts said despite Hassan Nawaz’s recent bankruptcy declaration, the imposed penalty may still be recoverable. Under UK law, tax fraud fines are not waived, regardless of bankruptcy status. At present, there has been no official statement from Hassan Nawaz’s legal team regarding the matter.
This development comes after an accountability court in Islamabad acquitted Hassan Nawaz and his brother Hussain Nawaz in several high-profile corruption cases, including the Avenfield, Flagship, and Al-Azizia references. The court had granted bail to the two men last year after they surrendered before the accountability court.
The UK government’s decision has added a new dimension to the ongoing legal battles surrounding the Sharif family, with implications that could stretch beyond Pakistan’s borders.
Sharif’s Bankruptcy
In 2024m Hasan Nawaz has been declared bankrupt by High Court of Justice in London due to unpaid tax debts owed to UK government. The bankruptcy details were published in the UK Gazette.
The order, issued on April 29, 2024, followed petition filed by Her Majesty’s Revenue and Customs (HMRC) for unpaid liabilities. Despite the bankruptcy, Hasan Nawaz remains listed as a director in several UK companies. Under UK law, he is restricted from managing businesses without court approval until discharged from bankruptcy.
As per record, Hassan started filing own income tax returns in 1995-96 tax year, following years of his father managing his financial affairs. Until that time, former PM had overseen assets of his son, as the younger Nawaz was minor.
In early 90s, Nawaz handled filing of Hassan’s tax and the latter moved to UK later, where he later completed his studies and ventured into business. This timeline highlights key moments in financial and business journey of Hassan Nawaz, which began under his father’s guidance before transitioning to his own management in the mid-90s.
