- Richard Tice, deputy leader of Reform UK, is facing claims that he failed to pay almost £100,000 in corporation tax through four shell companies between 2020 and 2022.
- The Sunday Times reported that these companies, linked to his investment firm Quidnet, did not pay tax on profits, which then benefited his investment company and led to significant donations to Reform UK.
- The alleged tax avoidance stems from the incorrect treatment of payments from Quidnet, a Real Estate Investment Trust (REIT), as tax-exempt ordinary dividends instead of taxable REIT property income distributions.
- Mr Tice said he is “always happy to put things right” and will pay what is owed if numbers need rechecking, attributing potential errors to a long career with multiple businesses.
- Mr Tice previously criticised Angela Rayner over her own tax affairs, saying she should resign for underpaying stamp duty.
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