Tice £91,000 tax row is ‘minor administrative error’, party claims

Tice’s £91,000 Tax Dispute Labeled ‘Minor Administrative Error’ by Reform UK

Reform UK has defended its deputy leader, Richard Tice, stating that a recent tax issue involving his property company was a “minor administrative error.” The controversy centers on Quidnet REIT Limited, which Tice established and controlled, allegedly missing £91,000 in tax payments prior to distributing dividends to him and his offshore trust based in Jersey, as reported by the Sunday Times.

Labour Condemns the Tax Situation as a Major Scandal

Labour has criticized the matter as a “major scandal” that challenges Richard Tice’s integrity and credibility. The party pressed HMRC to investigate the tax affairs of Tice after the Sunday Times highlighted that his company may have avoided nearly £600,000 in corporation tax. Labour’s chair, Anna Turley, initiated the inquiry following the report.

“Richard Tice urgently needs to explain whether his business followed the law and paid the full tax it owed,” said a Labour spokesperson.

HMRC has not confirmed or denied any ongoing investigations, with a spokesperson stating they cannot comment on specific individuals. Tice’s company, Quidnet REIT Limited, focuses on property investments, and the Sunday Times noted it “did not pay a required 20 per cent levy on dividends before transferring profits to Tice and his Jersey-based trust.”

At a press conference in Westminster, Tice asserted that his firm adhered to UK laws, calling it “a UK company paying UK tax.” He argued there was “no obligation” to pay the maximum tax and questioned the need for excess payments. “How many of your friends would choose to pay more tax than legally required?” he challenged journalists.

“Overall HMRC received the correct amount of tax due,” Tice stated on X, suggesting the Sunday Times was “effectively complaining” that he paid too much rather than his company fulfilling its tax responsibilities.

Zia Yusuf, Reform UK’s home affairs spokesperson, acknowledged the error as “a minor administrative error” but downplayed its significance, claiming it was “a non story.” She explained that any shortfall in the company’s tax payments would be offset by Tice’s personal income tax contributions, resulting in a net balance for HMRC.